Burnley Homebase building changes hands

A HOMEBASE unit in Burnley has been sold for £4.7m.

The 25,000 sq ft property at Ashfield Retail Centre is leased to the DIY chain at £337,500 a year until 2029.

It has been sold by the Leeds-based Gregory Property Group to an unnamed retail fund. The deal represented a net initial yield of 6.69%.

Richard Tovey, a director at Gregory Property said: “We purchased the former car showroom site in 2005 when this area of Burnley was starting to see major regeneration and undertook the single unit... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...