Wilkinson Williams

Press Release

Legal & General’s major foodstore acquisition in Cheltenham

Legal & General has acquired the freehold and long leasehold interest of the J Sainsbury 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 until 2032 at a current rent of £23.00 per sq ft. Legal & General purchased the property from a private investor for a price of £50.32 million, reflecting a net initial yield of 4.90%. Wilkinson Williams acted for Legal & General.

For further information please contact Miles Marten

m.marten@wilkinsonwilliams.co.uk