M&S puts 190,000 sq ft Sheffield base up for sale

The FTSE 100 retailer’s South Yorkshire logistics facility is available with an asking price of £17.1m, with M&S set to lease the property back for three years.

Lambert Smith Hampton is marketing the asset, along with a 197,000 sq ft shed in Tunbridge Wells, sold on a vacant possession basis. The Tunbridge guide price is £23.8m.

The Sheffield facility is at 3 Brookdale Road Chapeltown, close to Junction 35(A) of the M1, and is described as having significant asset management potential.

M&S’s shed sits on a site of slightly more than 10 acres, and will produce a passing rent of close to £1.25m per year. A sale at the guide price would reflect a net initial yield of 6.75%.

Other occupiers in the area include Evri and JCB.

Of the total 191,806 sq ft making up the building, 172,908 sq ft is warehousing space. M&S will occupy the building for three years from completion of a deal, with no break.