Gregory Property Group in £4.7m Burnley site sale

A PROPERTY group has sold its retail warehouse investment in central Burnley for £4.765 million.

Gregory Property Group has sold the 25,000 sq ft property at Ashfield Retail Centre to an unnamed retail fund.

The building is currently leased to Homebase Ltd at a rent of £337,500 per annum until May 2029.

Richard Tovey, director at Gregory Property Group, 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 development in late 2008.

“The location is now an established retail area with many of the major food and non-food operators close by.

“Also, the decision by Burnley College to locate on the adjoining site has further strengthened this part of the town.

“With no other DIY stores in Burnley, the investment will be an attractive asset for the purchaser.”

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