SUCCESSFUL SAINSBURY’S SALE IN LORDSHIP LANE
421 Lordship Lane, London, N17 6AG
HRH Retail has successfully completed on the sale of this well secured, freehold, convenience store investment for a price reflecting a net initial yield of 5.05%.
The property is situated in a busy and highly prominent corner location at the junction of Lordship Lane (A109) and Downhills Way (B155). The surrounding area is dominated by residential dwellings. Lordship Lane is the main arterial link road connecting Wood Green, Tottenham High Road, Bruce Grove and White Hart Lane.
The entire property is let to Sainsbury’s Supermarkets Limited on a 15 year lease from July 2012 with around 7.8 years’ unexpired. The lease contained a tenant only break clause in July 2022 and upwards-only rent review at the same time.
HRH Retail and TDB Real Estate jointly advised the vendor. The purchaser was advised by Caxtons.