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Marks & Spencer, 10 Pond Street, Hampstead, London, NW3 2QG

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Jun 2010

Atlas Real Estate and Osbourne King have recently concluded the aquisition of a supermarket let to Marks & Spencer in Hampstead, London, on behalf of the Northern Bank Pension Trust.

The property comprises a ground floor supermarket with first floor storage and offices totalling 1,515 sq.m (16,308 sq.ft).

The property is let to Marks & Spencer Plc for a term of 25 years from 6 January 2006. The lease is held on effective full repairing and insuring terms subject to 5 yearly upward only reviews. The next review is due on 6 January 2011.

The aquisition price of £7,350,000 reflects a net intial yield of 4.12% assuming costs of 5.7625%.