New Sale - Boundary Retail Park, Colne

• Colne is a thriving market town, in the borough of Pendle, Lancashire.
• The Property is situated in a prominent and highly accessible location, 1.5 miles south west of Colne Town Centre in close proximity to Colne Train Station, the A56 and the M65 motorway.
• Swinden Retail Park sits directly opposite the Property, this accommodates Asda Superstore and Petrol Filling Station, B&M, Pets at Home, Poundland and PureGym.
• Extensive catchment population of approximately 333,009 people in a 20 minute drive time.
• Purpose built retail warehouse terrace of three units comprising approximately 40,663 sq ft together with 334 car parking spaces equating to a ratio of 1:122 sq ft.
• Fully let to Next, Argos and DFS (see tenancy schedule).
• Total income is £648,588 per annum, reflecting a low average rent of £15.95 per sq ft.
• The Park benefits from Class E (non-food) planning consent.
• Freehold site of approximately 4.77 acres (1.93 hectares) providing a low site coverage of 20%.
• Strong asset management and development potential.

Offers are invited for our client's freehold interest in excess of £5,530,000 (Five Million Five Hundred and Thirty Thousand Pounds) subject to contract and exclusive of VAT. An acquisition at this level allowing for purchaser's costs of 6.8% would reflect a net initial yield of 11.00%.

Contact Paddy Knapman (07768 825 666 / paddy@morganwilliams.co.uk) or William Trimmer (07552 451 835 / williamtrimmer@morganwilliams.co.uk) for more information.