CBRE Global Investors, the global real estate investment firm, announces that it has completed the acquisition of five supermarkets across the UK for a total purchase price of more than £62 mln (approx. 77 mln). The acquisitions are as follows:
Two supermarkets, Waitrose and Sainsbury's in Frimley and Chadwell Heath respectively, for a total sum of £28.75 mln (approx. 35.7 mln). The site in Frimley is 26,548 ft² (approx. 2,466 m²), while the site in Chadwell Heath is 53,295 ft² (approx. 4,951 m²).
Waitrose in East Grinstead for £14 mln (approx. 17.3 mln). The site is 30,680 ft² (approx. 2,850 m²).
Co-op in Chapel Allerton, Leeds, for £5.8 mln (approx. 7.2 mln). The site is 16,703 ft² (approx. 1,551 m²).
Sainsbury's in West Wickham for £13.8 mln (approx. 17 mln). The site is 33,075 ft² (approx. 3,072 m²).
Michael Ness, Head of Separate Accounts, said: "These five acquisitions, offering secure income streams of more than 15 years and with sustainable and above market yields, reflect CBRE Global Investors' ability to source and acquire assets that fit exactly with the requirement of our clients."
"We believe supermarkets offer good investment opportunities for our clients and these purchases reflect that."
Source: Citigate Dewe Rogerson