ACRE Capital Real Estate acting on behalf of FTC (jointly with Lunson Mitchenall) have advised on the off-market acquisition of the B&M Homestores retail warehouse in Yeovil. The asset was acquired for 4,715,000 reflecting an attractive net initial yield of 6.22% NIY and a low capital value of 205 per sq ft.
The property comprises a modern solus retail warehouse unit let to B&M Retail Limited on an FRI basis for a remaining term of 10.5 years at a rent of 312,525 per annum reflecting 13.57 per sq ft.
Location: Lysander Road Retail Park, Yeovil
Property Type: Retail Warehouse
Transaction Type: Acquisition