Sainsbury’s Local, Kenilworth Road, Balsall Common, CV7 7EU & BP/M&S, 590-596 Didsbury Road, Heaton Mersey, SK4 3AJ
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£5,250,000
Dec 2023
Atlas Real Estate has recently advised a private pension fund client on the sale of two modern petrol filling station and convenience store investments.
Sainsbury’s Balsall Common was let on a 20 year term with effect from 18/11/2013 subject to a tenant break on 18/11/2028 at a passing rent of £198,560 per annum subject to 5 yearly RPI rent reviews.
BP / M&S was let on a 25 year term with effect from 22/06/2015 at a passing rent of £136,250 per annum with open market rent reviews
The properties were sold for £5,250,000 which reflects a net initial yield of 5.98% assuming normal acquisition costs.
Atlas RE acted for the vendor and Alexander James Automotive acted for the purchaser.
