FHP SELL SAINSBURYS INVESTMENT AT LONDON ROAD, BALDERTON, NEWARK

Investment News

FHP have sold the freehold investment of the Sainsburys premises located at 256 London Road, Balderton, Newark.

Ben Tebbutt, Partner at FHP, acted on behalf of the vendor, George LB Limited.  The property was sold at a price of £1,950,000 reflecting a yield of 4.85%.  Sainsburys are paying a rent of £100,000 per annum with 23 years remaining on the lease.

The property was purchased by EIRP Ltd, with Edward Hine of Edward Hine & Co acting on behalf of the purchaser.

Ben Tebbutt commented:-

“This deal highlighted the two tiered investment market we are currently experiencing.  On one hand secondary investments with short lease lengths and average quality tenants are almost impossible to sell, whilst strong tenants with long leases are a rare product thus attracting strong demand.”