DTZ Investors has acquired a prime London supermarket, let to Sainsbury’s, for £56,250,000. Knight Frank acted for DTZ Investors whilst Savills acted for the vendor, Lothbury. The site totals 2.5-acres and is entirely demised to Sainsbury’s who has been in continuous occupation since 1984. The building is EPC B-rated and comprises 67,426 square feet, of which 35,000 square feet is sales area along with a large 131-space surface car park. Sainsbury’s has recently agreed a new 20-year reversionary lease taking expiry to 24th March 2044 with the fresh inclusion of annual indexed rent reviews, green lease clauses and a full parent company guarantee.
Source: dtzinvestors.com on the 17th of august 2023
https://www.dtzinvestors.com/en/news/2023/august/dtz-investors-acquires-prime-london-supermarket