The Henderson UK Property Unit Trust has acquired a 73,300 sq ft (6,800 m2) supermarket in the UK town of Ripley in the East Midlands in an off-market deal.
The Henderson UK Property Unit Trust has acquired a 73,300 sq ft (6,800 m2) supermarket in the UK town of Ripley in the East Midlands in an off-market deal.
The Henderson trust bought the property for £31 mln (€37 mln), reflecting a net yield of 4.8%. The asset, which is let to Sainsbury’s Supermarket with a remaining lease of 21 years, was acquired from London & Cambridge Properties.
'The acquisition fits the strategy of investing in strong long income,' commented Marcus Langlands Pearse, director of Property. 'The fundamentals of the property being well-located in an area of limited competition are expected to drive future rental growth.'
The Henderson UK Property Unit Trust has invested over £400 mln year to date across all sectors and has traditionally held a low weighting towards high street retail. Recent purchases, including an M&S in Nottingham, reflect the fund’s strategy to reweight into core properties with rebased rents in the sector.
The vendor was represented by Mason Partners.
