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Fineman Ross sells Waitrose investment, Bournemouth

wantspacegotspace.co.uk - Fineman Ross sells Waitrose investment, BournemouthFineman Ross, on behalf of a private client, has sold the freehold interest in the Waitrose unit on Wimborne Road in Winton, Bournemouth to CBRE Global Investors for £7,156,000, reflecting a net initial yield of 5.5%.

The 31,071 sq ft (2,886 sq m), two-storey high-street supermarket is let to Waitrose on a lease with 16 years unexpired, at a rent of £386,850 per annum.  The lease term has two further, upward only, rent reviews in 2018 and 2023.

Nick Roberts of Fineman Ross comments: “This is a sound investment with an undoubted covenant, situated on a popular high street. We received a lot of interest.”

Jackson Criss advised CBRE Global Investors.

Posted by The Editor (wantspacegotspace) on 3rd September 2013

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