Buccleuch Property has bought a B&M retail warehouse in Manchester for £4.5m, an initial yield of 6.25%.
The private property company bought the 52,000 sq ft unit off-market from Rajan Trading Co.
It occupies a 3.5-acre site and is let to B&M until December 2027.
Philip Eves, director at Buccleuch Property, said: “We continue to seek investment opportunities in asset classes with good rental growth prospects across core UK locations. This is a great addition to our portfolio, providing secure income from a national retailer and located on a major arterial route leading into Manchester City Centre.”
Colliers and Harlex advised on the acquisition.
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