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August 2019

32-46 Spring Gardens, Buxton, SK17 6BD

Screenshot 2019-09-17 at 09.28.17

under offer

The property is located in the prime retail pitch in the affluent Derbyshire market town of Buxton.  The property comprises a multi-let town centre block anchored by Mountain Warehouse, Argos, White Stuff and Timpsons.  Fully let with a WAULT of 7.4 years to expiries and 4.9 years to breaks.  Total rental income of £245,212 per annum.  75% of the income is secured to national retailers.  Tenants have been in the property for an average of 15 years.  Both Mountain Warehouse and Argos have recently renewed their leases.  Potential redevelopment angles on part of the upper floors.  Offers sought in excess of £2,740,000 which reflects a net initial yield of 8.39%.

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