The Henderson UK Property Unit Trust has acquired a 73,300 ft² (approx. 6,810 m²) supermarket in Ripley, Derbyshire. The property, acquired for £31 million, at a net yield of 4.8%, is let to Sainsbury’s Supermarket with a remaining lease of 21 years. It was acquired from London & Cambridge Properties.
Marcus Langlands Pearse, Director of Property, said: "The acquisition fits the strategy of investing in strong long income. The fundamentals of the property being well-located in an area of limited competition are expected to drive future rental growth.”
The Henderson UK Property Unit Trust has invested over £400 million year to date across all sectors. It has traditionally held a low weighting towards high street retail. Recent purchases, including an M&S in Nottingham, reflect the Fund’s strategy to reweight into core properties with rebased rents in the sector.
It was an off-market transaction. The vendor was represented by Mason Partners LLP.