Wilkinson Williams

We were aware of Legal & General’s requirement for a foodstore investment and made an off market approach on their behalf for the freehold and long leasehold interest of the Sainsbury’s foodstore and petrol filling station on Tewkesbury Road in Cheltenham.

The property provides a prime foodstore investment with a GIA of approximately 97,400 sq ft, together with a petrol filling station. The property is let to Sainsbury’s until 2032 at a current rent of £23.00 per sq ft. Legal & General purchased the property for a price of £50.32 million, reflecting a net initial yield of 4.90%.