Sold on behalf of a Danish K/S vehicle. The property was let to Matalan Retail Ltd for a term of 10 years from November 2018 on full repairing and insuring terms at a passing rent of £195,022 per annum. The freehold and long leasehold interests were acquired by Seneca Properties.
The Richard John Blacker in Central Liverpool was sold on behalf of a Danish K/S vehicle. Let to J D Wetherspoon Plc on a 35 year full repairing and insuring lease for a term expiring in June 2034 subject to a tenant’s break in June 2029 at a current passing rent of £295,121 per annum. The long leasehold interests were acquired by J D Wetherspoons.
Lindley Mortimer acted on the surrender of three long let assets to M&S, administered by Habro Properties, The buildings are to be retained and actively managed by Habro.
The Opera House pub in Tunbridge Wells was sold on behalf of a Danish K/S vehicle. Let to J D Wetherspoon’s Plc on a 35 year lease expiring in 2033 subject to a tenant’s break in 2028, at a current rent of £188,146 per annum. The property was acquired by J D Wetherspoon’s.
A modern standalone food store of 8,553 sq ft adjacent to an Aldi and let to M&S Simply Food Ltd for a further 13 years (subject to tenants break in 8 years). The freehold was sold to a price investor for £2.425m, 5.15%.
A modern retail warehouse of 26,675 sq ft, let to B&M Retail Ltd for a term expiring in 2028. The freehold interest was acquired by FWHRE at a yield of 6.25% from a private investor.
A portfolio of four Wetherspoons Pubs in Stockton, Middlesborough, Folkestone and Harlesden sold on behalf of a two Danish K/S vehicles.
A modern retail warehouse of 21,722 sq ft, let to Wickes Building Supplies Ltd for 20 years from 1st May 2015. The freehold interest was acquired by FWHRE at a yield of 6.45% from LondonMetric.
A purpose built supermarket, in Hoddesdon town centre, opposite an Aldi supermarket let to Iceland for a further 13 years (8 years to break). Sold to a private investor for £2.15m, an initial yield of sub 5.5%.
A standalone retail warehouse of 21,200 sq ft close to the A43 and adjacent to a Tesco’s superstore. Let to B&M Retail for a further 13 years. The freehold interest was acquired by FWHRE at a yield of close to 6% from the Milton Keynes Park’s Trust.
A well located retail property on the pedestrianised pitch, opposite The Rock Shopping Centre. The unit comprised circa 37,000 sq ft and was let to Wilko’s for in excess of 14 years with two further fixed rental increases. The freehold interest was acquired at an initial yield of 6.50%.
A purpose built health and fitness facility of 38,000 sq ft including a swimming pool. The property was let to Nuffield with 12 years remaining and two fixed rental increases in 2017 and 2022.
The property was acquired by OLIM on behalf of BAE System Pension Funds Trustees at an initial yield of 7%.
A prime high department store of 47,500 sq ft, let to Debenhams on a lease expiring in 2076, subject to 5 yearly rent reviews. Acquired on behalf of Habro Properties from an overseas investor at a yield of 4.75%.
A modern well located builders merchants of 14,000 sq ft let to Jewson Ltd (trading as a Gibbs and Dandy) for a further 15 years. The freehold interest was acquired by Mayfair Capital’s Income Plus Fund at a yield of 6.25% from clients of CBRE Global Investors.