M&G sell Waitrose, Chipping Sodbury

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.