B&M warehouse changes hands in £4.5m deal

A Scottish property group has acquired a Manchester B&M warehouse in a deal worth £4.5m.

Buccleuch Property, based in Edinburgh, has extended its investment presence in the retail warehouse sector with the strategic acquisition of the B&M site on Hyde Road.

The purchase of this prominent 52,000 sq ft unit was completed through an off-market transaction with Rajan Trading Co, amounting to £4.5m, demonstrating an initial yield of 6.25%.

Situated two miles east of Manchester city centre, the property boasts a prime location and is let to a strong tenant until December 2027, on a high profile 3.5-acre site.

Philip Eves, of 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.”

The acquisition was facilitated by Colliers and Harlex.

Tom Lathwood, development manager at Harlex, said: “The property’s prominence and proximity to Manchester city centre makes this both an excellent short and long-term purchase. This acquisition further enhances Buccleuch’s portfolio and evidences the strong investor confidence in the North West market.”