Dunelm Mill Holyrood Dr 30,181 SF Retail Building Scunthorpe DN15 8NN £2,018,000 (£66.86/SF) 8.50% Net Initial Yield

Mason Partners are instructed to invite offers in excess of £2,018,000 (Two Million & Eighteen Thousand Pounds) subject to contract and exclusive of VAT. This reflects a low capital value per sq ft of £66, an attractive net initial yield of 8.5% and a reversionary yield of 13.36%, assuming purchaser’s costs at 6.28%.
The property comprises a modern retail warehouse built in 1985, occupying a large self-contained site extending to approximately 2 acres. The building is of dual bay steel portal frame construction with both brickwork and composite panels to the elevations.
The unit provides a large regular open-plan retail sales area, a café and customer WCs, with rear staff facilities and storage incorporating a tenants mezzanine floor. Externally, customer parking is provided for 56 vehicles, reflecting a ratio of 1:538 sqft together with a large secure separately accessed service yard providing additional staff parking.