SAINSBURY’S SALE RINGS UP OVER £1.5M
A freehold convenience store in Buckingham has been sold for £1.576m, reflecting a net initial yield of 5.16% off the anticipated RPI rent of £86,285 per annum.
The 4,500 sq ft supermarket is let to Sainsbury’s on a 15-year lease with just over 10 years unexpired and a tenant-only break in the tenth year. It is subject to five-year upward-only rent reviews, capped and collared at 4% and 1%.
Located at the junction of Chandos Road and London Road in the affluent Buckinghamshire town, the property attracted a good level of demand.
HRH Retail represented the vendor, a private syndicate, while Caxtons advised the purchaser, GDRE Investments.