Property group sells Homebase site for £4.765m

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LEEDS-based Gregory Property Group has sold its retail warehouse investment in central Burnley for £4.765m, reflecting an initial net yield of 6.69 per cent.

The 25,000 sq ft property at Ashfield Retail Centre is leased to Homebase at a rent of £337,500 per annum with over 15 years unexpired until May 2029.

The property, on the site of a former car showroom, has been bought by an unnamed retail fund.

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