BHT were recently instructed to market a prime trade counter unit in Birkenhead. The property was let to UK Plumbing Supplies Ltd on a 10 year lease from October 2022 at a passing rent of £60,000pax. The lease contained a rolling tenant break up to July 2026. The property was held long leasehold with only 48 years remaining with a ground rent payable.
Following a targeted marketing campaign we received several offers in excess of asking terms, reflecting a Net Initial Yield of 15.07%.
We have a requirement for similar commercial ground rent opportunities.
For further information please contact David Brackenridge or Jonathan Wade 0113 2449020.
