Alpha Real Sells Sudbury Sainsbury’s For £35.45M
Private Clients of Mutual Finance have purchased the 66,000 sq ft Sainsbury’s food store in Sudbury from Alpha Real Capital LLP for £35.45m reflecting a Net Initial Yield of 4.72%.
The lease to Sainsbury’s has just over 18 years unexpired and the rent of circa £1.8m pa is reviewed annually in line with RPI with a cap and collar at 3% and 1%. Debt finance for the acquisition was arranged by Mutual Finance .
Raed Hanna, MD of Mutual Finance said “We are very pleased with this acquisition with this investment providing very well secured long-term income with the added benefits of annual RPI linked rent reviews.”
Cyril Leonard advised the purchasers on the acquisition and Hampson Wall advised Alpha Real Capital LLP.
Capital & Occupational Markets