A Wickes store in Huddersfield has been placed on the market with a price tag of £3.96m.
The purpose-built, freehold retail unit on Manchester Road has been home to Wickes since its construction in 1995, and is let to the retailer until June 2030.
The unit has a current passing rent of £326,704 per annum, reflecting a rent of £11.50 per sq ft. The site’s lease was regeared in 2020 to provide a new 10-year term, with an upward only open market rent review due in June 2025.
The property benefits from a 138-space car park and is the only and dominant DIY provision on the south side of Huddersfield.
Mark Powell and Fraser Yarnold of XPROP have been appointed to market the property. XPROP said the £3.96m price tag reflects a net initial yield of 7.75%.