The newly developed building is let to M&S Simply Food on an unbroken 20 year lease with RPI linked rent reviews. BlackRock have bought the freehold property including the ground rents on nine residential units for £7.215 million reflecting a net initial yield of 4%.
“This is a great investment, 20 year unbroken leases are becoming rarer. It reflects the occupational demand to be the dominant foodstore in a wealthy London commuter belt location. In the increasingly political and economic uncertain environment, we see the appetite for secure long income investments with index-linked reviews as getting stronger and we are pleased to have secured this investment amongst competitive bidding” says GCW director Oli Horton.