B&Q, Trimdon Street, Sunderland

104,000 sq ft retail warehouse accommodation let to B&Q and Morrisons.

The B&Q at Trimdon Street was acquired with partners KKR in 2013 as part of the Tuscany Portfolio.

The property comprises a site of 10.8 acres purchased as a purpose built DIY warehouse of 104,000 sq ft plus a further 20,000 sq ft of ancillary retail accommodation in the garden centre and builders’ yard as well as 568 car parking spaces.

An agreement was entered into with B&Q to surrender part of their unit, subject to planning, with Morrisons entering into an agreement for lease on the surrendered space and garden centre. Planning was secured in 2015 and B&Q undertook the building works to split their unit. B&Q have now surrendered the extra space and Morrisons have completed their new lease on circa 70,000 sq ft, diversifying the income away from a single tenant and increasing the WALT of the asset.