Property overview

Acquisition of a Sainsburys anchored retail investment in Nottingham acting on behalf of REI plc.

The 2005 built retail and residential scheme comprised three ground floor retail units, anchored by Sainsburys. The 33 apartments above had been sold off.

The three units were let to Sainsburys, Barnardo’s and Bathstore. There was additional ground rental income from the apartments. The total rent roll was £216,710 per annum.

The investment was purchased for £2,385,000, reflecting a net initial yield of 8.59%. heb acted for the vendor.

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