Bury St Edmunds is an attractive and affluent market town which serves as both the retail and cultural centre for West Suffolk. Strategically situated located 47.6 km (29.6 miles) east of Cambridge and 70.2 km (43.6 miles) south west of Norwich, the town boasts excellent transport communications serving the surrounding population.
The A14 links to Cambridge and the M11 motorway to the west and Ipswich to the east. Additionally, the A134 provides access to Norwich in the north east via Thetford and the A11.
A regular train service runs between Bury St Edmunds and both London Liverpool Street and London King's Cross, with a travel time of just under 2 hours.
For information on the Socio Economic Profile of Bury St Edmunds, and its out-of-town retail provision, please see the marketing brochure.
The subject property provides approximately 5,501 sq m (59,220 sq ft) of purpose built retail warehouse ground floor accommodation. The west facing terrace comprises 2 units, together with outdoor garden centre, with parking for 200 vehicles (including staff spaces).
Internally the units have been fitted out by each of the tenants to their own individual corporate specification. 6m (19.7 ft) eaves heights allow the installation of mezzanines in both units - currently only The Range has first floor retail space however, which includes a café facility.
Customer access is via a roundabout junction on Western Way, whilst segregated rear servicing is available to both units from Olding Road. Staff parking spaces are included within the service yard.
The scheme is let in its entirety on Fully Repairing and Insuring terms to two occupational tenants producing a total annual income of £612,375 pa. Please see the marketing brochure for further information.
B&M Retail Limited (Company No: 01357507)
B&M Retail Ltd is a 5A1-rated covenant (Dun & Bradstreet) with a UK network of 576 retail stores and a total of 47 new store openings in the last financial year. Further details and a summary of their latest accounts can be found in the marketing brochure.
CDS (Superstores International) Limited (Company No: 02699203)
CDS (Superstores International) Ltd, trading as The Range, is now the fastest growing retailer in the UK. With over 140 stores nationwide, they stock more than 65,000 products across 16 different departments, from Homewares and Furniture to DIY and Art Supplies. Further details and a summary of their latest accounts can be found in the marketing brochure.
The property has been elected for VAT and it is anticipated that the transaction will be treated as the Transfer of a Going Concern.
Offers are sought in the region of £11,480,000 (Eleven Million, Four Hundred and Eighty Thousand Pounds), subject to contract and exclusive of VAT for the Freehold interest in this property. Allowing for the purchaser's costs of 6.71% this would reflect the following yield profile:
Initial Yield - 5.00%
Guaranteed Uplift November 2022 - 5.25%
Guaranteed Uplift November 2027 - 5.54%
Guaranteed Uplift November 2032 - 5.85%