2 Inverkip Street, Greenock
In November 2019 Maven completed the purchase of 2 Inverkip Street, Greenock, for £3.1 million. The transaction was funded by Maven Investor Partners.
The property is a substantial 41,000 sq ft retail store and is fully let to B&M Retail Limited, a leading value retailer, with 13 years remaining on the lease. The 3-acre site also includes 190 parking spaces and is located in the centre of the town, adjacent to Greenock’s main retailing centre the Oak Mall Shopping Centre. Greenock is a town of approximately 44,000 people located within the Inverclyde area, approximately 26 miles west of Glasgow.
B&M Retail Limited has a Dun & Bradstreet rating of 5A1 and is one of the leading value retailers in the UK, with over 645 stores as at September 19, and over 28,000 employees. The benefit of a lease in place until 2032 to this strong covenant provides a secure income stream to investors.