Glastonbury, Somerset, UK, EMEA

B&Q and Costa Coffee

Portfolio description

B&Q

The property comprises a purpose built detached retail warehouse unit constructed in 1991. The building is of steel portal frame construction with an eaves height of approximately 6.5m. Internally the property is fitted out to the corporate trading style with large sales area, trade and bulky goods area and a two-storey ancillary block providing customer WC’s, stores and staff facilities and meeting rooms.

The property includes an outdoor garden centre which is accessible through the main warehouse.

Costa Coffee

Constructed in 2022, the property comprises a purpose built, single storey coffee pod. The building is of a steel portal frame construction under a single pitched roof.

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Attributes

Building area gross

2,509 m²

Occupancy

100%

WAULT

10.16 years

Asking price

₩10,691,043,000

B&Q and Costa Coffee (2 Properties)

Media

Investment Highlights

A prime retail warehouse and Costa Coffee drive-thru investment
The warehouse extends to 27,011 sq ft (7,018 sq m) GIA with an additional external garden centre
The newly built drive-thru extends to 1,800 sq ft (167.22 sq m) GIA
Large site area of 2.46 acres
Freehold
A combined WAULT of 10.16 years to expiry and 9.29 years to break
Let to B&Q Plc (D&B 5A1) since 1991 & Costa Limited (D&B 5A1) since 2022
Current combined passing rent of £409,700 per annum overall
We are instructed to seek offers in excess of £5,900,000 (Five Million, Nine Hundred Thousand Pounds) subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 6.51% (assuming purchaser’s costs of 6.62%).