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Units 1-4 11 Canning St 10,645 SF 100% Leased Retail Building Burnley BB12 0AD $3,213,456 ($301.87/SF) 6.44% Cap Rate
Investment Highlights
- Located adjacent to Princess Way Retail Park
- EV charging facilities
- Easily accessible from the M65
Executive Summary
Opportunity to acquire a highly prominent roadside asset located immediately adjacent to Princess Way Retail Park. The property comprises of four units which is fully occupied and multi-let, generating £160,900.00 per annum exclusive. The units break down as follows;
- Unit 1 is let to Formula One Auto Centres Limited on a 15 year lease with a 5 yearly rent review
- Unit 2 is let Lucky B's Hot Chicken on a 10 year lease with a fixed increase to £25,000 at rent review
- Unit 3 is let to Indigo Sun Retail Limited on a 15 year lease with a 5 yearly rent review to market rent.
- Unit 4 is let to Angling Direct PLC on a 10 year lease with a 5 yearly rent review, compounded annually in line with RPI
Offers in the region of £2,350,000.00 are to be considered.
- Unit 1 is let to Formula One Auto Centres Limited on a 15 year lease with a 5 yearly rent review
- Unit 2 is let Lucky B's Hot Chicken on a 10 year lease with a fixed increase to £25,000 at rent review
- Unit 3 is let to Indigo Sun Retail Limited on a 15 year lease with a 5 yearly rent review to market rent.
- Unit 4 is let to Angling Direct PLC on a 10 year lease with a 5 yearly rent review, compounded annually in line with RPI
Offers in the region of £2,350,000.00 are to be considered.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold/Long Leasehold
Building Size
10,645 SF
Building Class
B
Year Built
1980
Price
$3,213,456
Price Per SF
$301.87
Cap Rate
6.44%
NOI
$206,947
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.31
Lot Size
0.78 AC
Parking
51 Spaces (4.79 Spaces per 1,000 SF Leased)
Frontage
633’ on Canning Street
Amenities
- Mezzanine
- Automatic Blinds
1 1
Nearby Major Retailers
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Street
Map
1 of 1
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Units 1-4 | 11 Canning St
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