Alpha Real Capital has purchased a 66,000ft² Sainsbury’s store in Sudbury for €39.4m (£34m) reflecting a 4.7% net income yield (NIY). The lease to Sainsbury is for a term of just under 20 years and the rent, currently passing at c.€2m (£1.7m) is reviewed annually in line with the RPI. Alpha acquired the property for one its long-lease property funds. The company has over €3.5bn (£3bn) of assets under management, primarily focussed on long-lease property and freehold ground +rents.
Phillip Rose, CEO, Alpha Real Capital said: "Alpha is a leading investor in long income real assets. Alpha focuses on acquiring long-lease properties and freehold ground rents across a diverse range of sectors. Our focus is on secure income backed by real assets".