B&M Investment, 11-15 , Wharf Street, Sowerby Bridge

Property details

The property briefly comprises a town centre retail warehouse which is occupied by B&M.
The premises are accessed via a traditional stone-lined two-storey frontage which leads into a more modern construction retail warehouse to the rear.

At the rear of the property is a surfaced area of yard which is utilised for loading and is accessed via Tuel Lane and the Local Authority Car Park to the east.
We understand that the customers or visitors of the tenant are able to utilise the adjoining car park without charge.

Location
The property is located with frontage to Wharf Street, the principal through road within Sowerby Bridge Town Centre. Sowerby Bridge is a busy market town and has proven a popular destination for a number of retail and leisure operators, with notable nearby occupants including Lidl and Wetherspoons. Sowerby Bridge remains an attractive residential location benefitting from both a scenic semi-rural setting whilst maintaining excellent transport links with proximity to Junction 23 of the M62 Motorway Network.

Tenancy
The property is occupied by B&M Retail Limited by way of a full repairing and insuring lease until the 20th of December 2026. The passing rent from the 21st of June 2024 is £44,500 per annum exclusive.
B&M is a multinational variety store, currently operating 707 stores in the UK with an additional 114 in France. B & M Retail Limited (01357507) reported a turnover of over £4 billion, pre-tax profit of £430 million and a net worth of £595 million.

Price
£355,000 plus VAT for the Long Leasehold Interest

Tenure
The property is sold on a Long Leasehold basis which commenced in 1983 for a period of 125 years, having circa 84 years unexpired (at the time of writing). The Long Leasehold is subject to a ground rent currently standing at £7,500 per annum.

VAT
The price quoted is exclusive of VAT which is understood to be applicable.

Legal Fees
Each party is to be responsible for their own legal costs incurred in any sale transaction.

Rateable Value
The property has been assessed with a Rateable Value of £43,250. The current rate payable in the pound is 51.2p for the standard multiplier and 49.9p for the small business multiplier.

EPC
The property has been assessed with an EPC Rating of C which is valid until the 7th of September 2031.

Viewing
For further information or should you wish to arrange a viewing, please contact the joint selling agents:
Jack Spencer
Direct Line: 01422 430013
Mobile: 07818596072
Email: Jack.Spencer@walkersingleton.co.uk
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