Property overview

BP/M&S Service Station, 590-596 Didsbury Road, Heaton Mersey, SK4 3AT

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Jun 2015

Franck Steier Price has recently completed the acquisition of a new BP/M&S Petrol Filling Station on behalf of IM Properties.

The property is located in Heaton Mersey, 2.5 miles west of Stockport, and will comprise a new build BP/M&S petrol filling station.

The property is let to BP Oil Ltd for a term of 25 years from June 2015.  The lease is held on full repairing and insuring terms subject to 5 years open market reviews.  The current rent is £120,000 per annum.

The purchase price of £2,100,000 reflected a net initial yield of 5.40% after purchaser’s costs of 5.80.

The vendor was Synergie Holdings, represented by Barber Wadlow.