Sainsbury’s, Lincoln Road, Washingborough, Lincoln, LN4 1AT
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£6,730,000
Nov 2023
Please find below details of this prime supermarket development funding opportunity we have been instructed to market:
- Forward funding of a prime supermarket investment
- Located in the affluent Lincoln suburb of Washingborough, to the east of Lincoln and in close proximity to the Lincoln Eastern Bypass (A15)
- A new build supermarket extending to 1,681.99 sq.m (18,105 sq.ft) pre-let to Sainsbury’s Supermarkets Ltd
- Lease term 20 years (without break)
- Lease subject to five yearly upward only reviews to CPI collared at 1% and capped at 3.5% per annum compounded
- Rent £376,765 per annum (£20.81 per sq.ft)
- Excellent covenant with a Dun & Bradstreet rating of 5A1
- Site has been granted detailed planning consent for the proposed development
- Practical completion Q4 2024
We are instructed to seek offers in excess of £6,730,000 subject to contract and exclusive of VAT. The purchase price would equate to a Net Initial Yield of 5.25%, assuming standard purchaser’s costs of 6.65%.
