19,000 sq ft retail unit sold in Derby

A 19,000 sq ft B&M retail unit on Stenson Road, Derby, has been sold.

Bassi Properties has bought the building which is let on a 10-year lease to value retailer B&M.

B&M operates 500 high street and out of town stores across the UK.

Avinash Bassi, managing director of Bassi Properties, said: “B&M make a welcome addition to our ever-growing list of blue-chip tenants. Adding to the likes of our existing Aldi, Co-Ops & Sainsburys retail investments. We are always looking to expand our portfolio with similar investments, but strong covenants are an absolute must for us.”

Will Torr, associate partner of heb Surveyors who acted on behalf of Bassi Properties, said: “The unbroken 10 year term certain to the well regarded covenant of B&M was bought for an undisclosed sum and reflects type of asset Bassi Properties are looking to add to their portfolio.”

Christopher Dee acted on behalf of the seller and Cleggs Solicitors undertook the legal work for Bassi Properties.