Glenstone acquires newly refurbished Retail Warehouse in Loughborough

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Posted on April 17, 2024

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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."