M7 continue Retail Warehouse acquisition drive with Ipswich purchase.
M7 have successfully completed the purchase of a solus B&M on Felixstowe Road, Ipswich from BMO.
The unit which is occupied by the FTSE 100 retailer extends to approx. 39,000 sq ft is let off a manageable rent of £12.99 per sq ft and benefits from a WAULT of 10 years. M7 purchased the asset for £6.0m, showing a net initial yield of 7.90%.
Edgerley Simpson Howe represented M7.