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Knutsford Waitrose building sold for £2.7 million
13/07/2011
Associated British Foods Pensions Trustees Limited has bought the building comprising 12,809 sq ft, which is let to Waitrose on a 25 year lease. The initial passing rent totals £140,000 per annum, with fixed uplifts every 5 years.
Matthew Dobson, Property Partner at Brabners Chaffe Street comments: “This is a successful and desirable retail location, with a strong occupier profile, making it an attractive target for investors.”
The deal reflects a net initial yield of just under 5%. Rob Millington of Cheetham & Mortimer also advised Princess Street Holdings Limited. Alun Jones of Edwards & Co and Mayer Brown LLP acted for the purchaser.
For further information contact Matthew Dobson at Brabners Chaffe Street on 0161 836 8800
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