Scottish property group Buccleuch Property has recently extended its investment presence in the retail warehouse sector with the strategic acquisition of value retailer B&M on Hyde Road, Manchester.

The purchase of the 52,000sqft unit was completed through an off-market transaction with Rajan Trading Co, amounting to £4.5m, demonstrating an initial yield of 6.25%. The acquisition was facilitated by Colliers and Harlex. 

Situated two miles east of Manchester city centre, the property boasts a prime location and is let until December 2027 on a high profile 3.5-acre site.

Philip Eves of Buccleuch Property said: “We continue to seek investment opportunities in asset classes with good rental growth prospects across core UK locations. This is a great addition to our portfolio, providing secure income from a national retailer and located on a major arterial route leading into Manchester City Centre.”

Tom Lathwood, Development Manager at Harlex, said: “The property’s prominence and proximity to Manchester city centre makes this both an excellent short and long-term purchase. This acquisition further enhances Buccleuch’s portfolio and evidences the strong investor confidence in the North West market.”