Burton - Marks & Spencer_Property for Sale
Burton - Marks & Spencer_Property for Sale
2-6 St Modwens Walk, Burton-On-Trent, Staffordshire, DE14 1HL, UK

Burton - Marks & Spencer

Asset Description

The unit comprises 71,804 sq ft of accommodation arranged across ground and four upper floors.


Tenant trades over ground and first floors with a further two floors of storage. There is a strong food offering across the store with both a supermarket

element as well as an M&S café.

...

Attributes

Asking price
TRY 299,534,000
Building area net
6,671 m²
Occupancy
100%
Year built
1970

Media

Investment Highlights

  • New 999-year virtual freehold interest at a peppercorn rent from June 2022
  • Single-let to Marks and Spencer Plc with 71.8 years unexpired with no breaks
  • Net passing rent of £549,000 per annum reflecting a sustainable £7.65 per sq ft
  • Upwards only rent review every 14 years to open market value with next review on 1st April 2029
  • Anchor tenant within Cooper Square Shopping Centre benefiting from excellent footfall
  • Marks and Spencer Plc posted buoyant end of year results for the 12 months to April 2023 with positive trading feedback from the tenant on site
  • Burton-on-Trent is ranked in the top 15% of all PROMIS centres for both population growth and retail expenditure growth
  • Strong development activity in Burton-on-Trent facilitating population growth and increased retail expenditure

Contact brokers

Burton - Marks & Spencer (0 Properties)

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Last updated
7 Sep 2023