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B&M Loughborough

Glenstone acquires newly refurbished Retail Warehouse in Loughborough

Posted on April 17, 2024

Glenstone REIT are pleased to announce the acquisition of an off market Retail Warehouse located on Belton Road, Loughborough. The property is let to B&M Retail on a new 10-year lease and has been comprehensively refurbished prior to their occupation.

Situated in a prominent location, the unit comprises approximately 26,000sq.ft. of Retail Warehouse space with a further 8,300sq.ft. for a dedicated garden centre.  

The property was purchased for approximately £2.7milion reflecting a Net Initial Yield of 6.75%.

Managing Director Ben Green commented “We are delighted to have acquired this opportunity off market in a town historically well known to Glenstone. The property is let off an affordable £ per sq.ft. rent which is comparable to nearby industrial rents and sits well alongside our other recent Retail Warehouse purchases."