Forge have advised on the sale of the Waitrose in Longfield, Kent.

The property comprises a 28,200 sq ft purpose built foodstore with 150 demised surface parking spaces. The store was recently fully re-fitted by Waitrose and provides full omni-channel services with both Click & Collect and home delivery.

The store is let to Waitrose Ltd for a further 19.5 years with a passing rent of £530,437 pa (reflecting £19.00 psf), subject to 5 yearly CPI linked rent reviews, with a collar and cap of 1% – 4% pa.

Jonathan Mills commented: “Having recently advised on the purchase of the property as part of Project Sparta, an 11 asset Waitrose sale and leaseback portfolio, we were delighted to complete this sale on behalf of our client, M&G, at a material premium to the portfolio pricing, clearly demonstrating the continued appeal of long let foodstore income.”

To discuss this or other foodstore opportunities, please contact Jonathan Mills or Joe Baio.

Forge are pleased to have advised on the sale of the Waitrose in Chipping Sodbury, South Gloucestershire.

The property comprises a 32,400 sq ft purpose built foodstore with 206 demised surface parking spaces. The store provides full omni-channel services with both Click & Collect and home delivery.

The store is let to Waitrose Ltd for a further 19.5 years with a passing rent of £632,073 pa (reflecting £19.50 psf), subject to 5 yearly CPI linked rent reviews, with a collar and cap of 1% – 4% pa.

Jonathan Mills commented: “Having recently advised on the purchase of the property as part of Project Sparta, an 11 asset Waitrose sale and leaseback portfolio, we were delighted to complete this sale on behalf of our client, M&G, at a material premium to the portfolio pricing.”

To discuss this or other foodstore opportunities, please contact Jonathan Mills or Joe Baio.

Forge have advised M&G Real Estate on the successful disposal of 7-8 Broad Street, Reading.

The Property, which is let in its entirety to Sainsbury’s, is situated in a 100% prime trading location on Broad Street, with neighbouring tenants including Primark, John Lewis, M&S and JD Sports.

Following a competitive bidding scenario, Forge secured an excellent outcome for our client, underscoring sustained confidence in well-let High Street assets in prime locations.

It was a pleasure to work with Neil Edwards and Oliver Jordan, who represented the purchaser, and thanks also to Jessica Dutton of CMS for her legal counsel.

To discuss this or other opportunities, please contact Jonathan Mills or Joe Baio.

Forge are thrilled to announce a number of transactions in Muswell Hill, acting on behalf of our longstanding client DTZ Investors.

Following the Planet Organic Ltd administration, we successfully negotiated a deal with the new owners of the business, allowing our client to avoid the potential of a large vacant unit with inherited dilapidations. The agreement involved downsizing them into a smaller unit, more aligned with their future aspirations, with the aim of ensuring the longevity of the business.

Subsequently, we agreed on a new long-term lease with Redemption Roasters on the remaining space, increasing the total rental income in the process.

This follows the opening of Giggling Squid in July, featuring a high-quality fit-out that complements the affluent local area (image below)

Photo Credit: Muswell Hill Management / Trip Advisor

Forge was established to provide end-to-end services to our clients, offering leasing, lease advisory and investment expertise – covering the entire life cycle of property ownership.

We therefore take great satisfaction in announcing a selection of deals in Richmond-upon-Thames, spanning all three service-lines within the business:

– New letting to Black Sheep Coffee at 1-2 Kew Road on behalf of Basildon Borough Council.

– Lease renewal and lease re-gear with Greggs and Flying Tiger Copenhagen respectively on behalf of CBRE Investment Management at 35-37 The Quadrant.

– At 11 The Quadrant we advised on the lease renewal with Ryman, on behalf of Columbia Threadneedle Investments.

– Most recently, we completed the sale of 28 Hill Street to a private investor, on behalf of Tri Capital Properties.

These transactions showcase our ability to deliver consistent results across all facets of the business, using our intimate knowledge of the markets we operate in to produce positive outcomes for our clients.

Forge are delighted to have advised the Landlord on the letting to Sandwich Sandwich at 1 Gresham Street, EC2V.

Nick, Josh, Chaker, and the team have built something special, demonstrating the power of creative marketing campaigns and a strong social media following. Most importantly, they have developed a fantastic product that keeps consumers coming back.

Although it has only been six weeks since they opened their doors, the queues continue to form around the corner on a daily basis, and we are confident they will prove to be a successful long-term Tenant for our client.

At Forge, we pride ourselves on delivering best-in-class advice to our clients and we have more opportunities coming to market shortly across the City of London.

Please get in touch with the team for further information.

Forge have advised CBRE Investment Management on the successful disposal of Rudy’s Pizza Napoletana, 27 Spital Square, London E1.

Having let the asset on behalf of our client, and then subsequently marketed the investment, we were particularly pleased to see the the sale through to a strong exit.

Many thanks to howard brecker and Damien Field of Robert Irving Burns, who acted on behalf of the buyer, a private investor.

Thanks also to Holly Smith who advised our client on legals.

For further information please contact Joe Baio, Jonathan Mills, Adam Robinson or Liam Jones.

Forge are delighted to have advised Nuveen, a TIAA company on the succesful disposal of 180-190 High Street, Lewisham.

The property comprises 54,360 sq ft and is entirely let to Primark for a further two years on FRI terms.

Following a highly competitive bidding scenario, Forge were able to execute the sale well ahead of the quote price of £7.59m / 6.50% NIY.

Many thanks to Chris Thomas and Richard Bashford of CBRE who acted on behalf of the purchaser.

To discuss similar opportunities, please contact Jonathan Mills or Joe Baio.

Forge have advised on the successful disposal of 3-4 Market Hill, Cambridge, on behalf of our client, CBRE Investment Management.

Situated in a prime location in one of the UK’s strongest retail centres, the 6,866 sq ft asset is part let to Popeyes and part-vacant.

Forge were delighted to garner a strong level of investor interest, and secure an excellent result ahead of the quoting terms.

Many thanks to Phil Hay of Jackson Criss who acted on behalf of the Purchaser, a private investor.

To discuss this or other opportunities, please contact Jonathan Mills or Joe Baio.

Forge are pleased to have advised Jaspar Group on the successful disposal of 341 High Street, Sutton.

The property, which is let to Topps Tiles until October 2028, provides a single-storey unit of 5,575 sq ft on a 0.4-acre site.

Following a highly competitive bidding scenario, Forge were pleased to conclude the deal with a private client of Simon Gregory of Smith Price RRG.

For further information, or to discuss similar opportunities, please contact our investment team.