Sainsburys Local, 279 Staines Road, Hounslow, TW4 5AL
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Atlas Real Estate has recently completed the purchase of a convenience store investment behalf of a private investor.
The property is located Staines Road in Hounslow and comprises a former public house which has been converted into a convenience store totalling 6,856 sq.ft with 25 car parking spaces.
The property is let to Sainsbury’s Supermarkets Ltd for a term of 15 years from February 2012. The lease is held on full repairing and insuring terms subject to five yearly upward only reviews to compounded RPI (collar and cap of 1% and 3.5% per annum). The commencing rent is £65,000 per annum.
The investment was purchased for £1,201,000 which reflected a net initial yield of 5.12%. The vendor was represented by Pollock Commercial Property Advisors.
