June 2022
Investment Sale
Newport, Isle of Wight : M&S Litten Park

  • Dominant out of town freehold store let to M&S plc
  • Price: £12,820,000
Fawcett Mead are delighted to have advised LondonMetric on the disposal of their freehold interest in the M&S store at Litten Park, Newport, Isle of Wight.

The store is let in its entirety to Marks & Spencer Plc until 2027, with the rent subject to fixed annual increases of 1.95%.

Jonathan Mills commented "Having advised on the acquisition of this full line M&S for LondonMetric, we were pleased to agree an off market sale and complete the transaction within 5 days of going under offer. Again, this demonstrates the continued appeal of the M&S covenant for which we have a number of investors actively seeking."
[read more]

April 2022
Investment Sale
Wigan : 9 Ormskirk Road

  • Solus retail unit investment with 9.82 years unexpired
  • Passing Rent: £170,346
  • Price: £1,880,000
  • Net Initial Yield: 8.53%
Acting on behalf of CBRE IM, Fawcett Mead are delighted to announce the successful sale of 9 Ormskirk Road, Wigan.

The property is let entirely to A Share & Sons Limited (t/a SCS) until 14th January 2032 at a rental of £170,346 per annum.

The purchase price of £1,880,000 reflects a net initial yield of 8.53%.

Tom Heptonstall commented "We were delighted to conclude the sale of this solus retail investment. We had a number of competitive offers and we were delighted to achieve an attractive exit price for our client. It was fantastic to work with Charlie Neil of TW Keil, who acted for the purchaser."
[read more]

February 2022
Investment Sale
Harrogate : Co-op, Jennyfield Drive

  • Freehold supermarket and ground rent investment
  • Passing Rent: £253,625 per annum
  • Price: £5,000,000
  • Net Initial Yield: 4.75%
Acting on behalf of CBRE Global Investors, Fawcett Mead are delighted to have sold this freehold supermarket and ground rent investment.

The property comprises of a 16,770 sq ft foodstore and four shop units, let to Co-operative Group Ltd on a 15 year term from October 2017, at a passing rent of £250,000pa. There is additional ground rent income of £3,625 pa.

The sale price of £5,000,000 reflected a net initial yield of 4.75%.
[read more]

February 2022
Investment Sale
Sevenoaks : Sainsburys - St Johns Hill

  • Food store investment let to Sainsbury’s until 2029
  • Passing Rent: £129,721 per annum
  • Price: £2,700,000
  • Net Initial Yield: 4.50%
Acting on behalf of CBRE IM, Fawcett Mead are delighted to have advised on the sale of this highly desirable, South East food store investment.

The property is let to Sainsburys Supermarkets Limited until April 2029 and is subject to five yearly upward only rent reviews linked to RPI, therefore offering 7 years of extremely secure income.

Jonathan Mills commented: “We were pleased to sell this attractive food store investment for CBRE IM to a party who we knew had a strong requirement for such an asset. The transaction completed within the agreed 5 day timescale and continues our strong run in the food store investment market, for which we continue to experience very high levels of investor demand.”
[read more]

January 2022
Investment Acquisition
Bridgewater : Matalan - Bristol Road

  • Prominent retail warehouse let off a low passing rent
  • Price: £2,840,000
  • Net Initial Yield: 7.50%
Fawcett Mead are delighted to have advised Glenstone REIT on the acquisition of a prominent retail warehouse investment, on Bristol Road, Bridgewater.

The subject property is let entirely to Matalan on a new 10 year lease from December 2020.

The purchase price of £2.84m reflected a NIY of 7.50%.

Richard Bashford commented "This retail warehouse investment occupies a prominent, corner site, on the main arterial route between the M5 and Bridgewater town centre. It is let off a very low passing rent of £9psf and has excellent underlying value for alternative uses."
[read more]

July 2021
Investment Sale
Ferndown & Haslemere : M&S Portfolio

  • Portfolio of two M&S food stores in Ferndown and Haslemere
  • Price: £14,860,000
  • Net Initial Yield: 4.00%
Acting on behalf of LondonMetric, Fawcett Mead have sold the freehold interest in two foodstores let to Marks & Spencer PLC. Both properties offer index linked rent reviews and provide a WAULT of 15 years.

Jonathan Mills commented "We are pleased to have completed on this off market sale to a local authority purchaser, which demonstrates the continued appetite for foodstore investment opportunities, particularly those that offer some form of indexation.”
[read more]

May 2021
Investment Sale
Salisbury : Busy Bees

  • Prime Long Let Day Nursery Investment
  • Passing Rent: £114,136 per annum
  • Price: £2,075,000
  • Net Initial Yield: 5.17%
Fawcett Mead has sold the long leasehold interest in this nursery investment on behalf of a private vendor.

The property is let to Busy Bees on a FRI lease that expires on 23 June 2038, at a current passing rent of £114,136 per annum, which is subject to fixed rental uplifts.

The purchase price was £2,075,000, which reflected a NIY of 5.17%.
[read more]

May 2021
Investment Sale
Urmston : Eden Square Shopping Centre

  • Neighbourhood Shopping Centre Investment comprising 66,000 sq ft of retail accommodation and a 500 space car park
  • Price: Circa £9,750,000
Acting on behalf of Columbia Threadneedle, Fawcett Mead has sold the long leasehold interests in this suburban shopping centre for circa £9.75m to Sheet Anchor Investments, who were represented by JLL

This is a modern, open centre, that occupies a site of approximately 5.50 acres and includes a 500 space car park. The tenants are mostly food, discount or convenience retailers and include: Aldi, Boots, Iceland, Card Factory, Costa Coffee, Anytime Fitness and Greggs.

Richard Bashford commented – “Retail investments such as this remain in high demand due to the nature and variety of the occupiers. The property has proved to be resilient during the covid pandemic, with many of the tenants remaining open, and we felt it offered a purchaser a number of asset management opportunities.”
[read more]

April 2021
Investment Sale
Swindon : Taw Hill

  • Neighbourhood Convenience Parade Investment Secured to Co-Op for a further 17.2 years with RPI linked uplifts.
  • Passing Rent: £196,996
  • Price: £3,390,000
  • Net Initial Yield: 5.46%
Fawcett Mead are pleased to have advised Savills Investment Management on the sale of this convenience parade in Swindon.

The subject property is let to The Midcounties Co-Operative Limited on Full Repairing and Insuring terms for a period of 25 years commencing on 19th December 2012. The rent is subject to five-yearly rent reviews linked to RPI with a collar of 2.00% and a cap at 3.25%.

Graham Fawcett commented "The sale of this property went through incredibly quickly together with Bicester to a reliable and efficient purchaser. Both parties were delighted with the result."
[read more]

April 2021
Investment Sale
Bicester : Bure Park

  • Neighbourhood Convenience Parade Investment Secured to Co-Op.
  • Passing Rent: £108,298
  • Price: £1,860,000
  • Net Initial Yield: 5.48%
Fawcett Mead are pleased to have advised Savills Investment Management on the disposal of the Bure Park convenience parade.

The convenience parade is let to Midcounties Co-Operative Limited with annual uplifts until 2037. The rent is subject to five-yearly rent reviews linked to RPI with a collar of 2.00% and a cap at 3.25% applied annually.

Graham Fawcett commented "The sale of this property went through incredibly quickly together with Swindon to a reliable and efficient purchaser. Both parties were delighted with the result."
[read more]

March 2021
Investment Sale
Taunton : Bindon Road

  • Secured to Matalan Retail Limited with 10.4 years unexpired
  • Passing Rent: £175,185
  • Price: £2,350,000
  • Net Initial Yield: 7%
Fawcett Mead are delighted to have advised Savills Investment Management on the sale of this retail warehouse.

The subject property is let to Matalan Retail Limited with an unexpired lease term of 10.4 years. The property comprises a 1.52 acre site reflecting a low 25% site coverage and benefits from rare open A1 planning use.

Graham Fawcett commented "We are thrilled to have completed on this sale which completed during lockdown. Our client is delighted with the result".
[read more]

January 2021
Investment Sale
Houghton Le Spring : 1-4 Rainton Bridge Industrial

  • A highly attractive industrial unit, let to Howdens and Screwfix.
  • Passing Rent: £88,550
  • Price: £1,450,000
  • Net Initial Yield: 5.75%
Fawcett Mead have recently acted on the sale of the freehold interest of 1-4 Rainton Bridge Industrial Estate, Houghton Le Spring, on behalf of a private client.

The property is let to Howdens Joinery limited Screwfix Direct Limited.

Graham Fawcett commented "We are very pleased have advised our client on the disposal of their freehold interest in this asset at a strong exit price."

Many thanks to MHPI who acted on behalf of the purchaser.
[read more]

February 2020
Investment Sale
Milton Keynes : Roebuck Way

  • Let to 360 Play, a childrens soft play centre, until 2029
  • Passing Rent: £152,000 per annum (£12.93 psf)
  • Price: £1,840,000
  • Net Initial Yield: 7.7%
Fawcett Mead have recently acted on the successful disposal of this long leasehold leisure investment in Milton Keynes.

The property is let to 360 Play, a childrens soft play centre, until 2029 (without breaks).

The site comprises 1.2 acres with approximately 75 car parking spaces.

Joe Baio commented, "Following a best bids process, our client was extremely pleased with the exit, which was ahead of the quoting terms."

LSH acted for the purchaser.
[read more]

January 2020
Fawcett Mead Letting Availability 2020

September 2019
Investment Acquisition
Plymouth : Units A, B & C Coypool Retail Park

  • Three retail warehouse units, let to B&M Retail, Harveys and Bensons for Beds
  • Passing Rent: £545,000 per annum
  • Price: £5,800,000
  • Net Initial Yield: 8.81%
Fawcett Mead has recently acted on behalf of an institutional investor on the acquisition of this retail warehouse investment in Plymouth, comprising 39,545 sq ft of internal floorspace.

The units are let to B&M Retail, Harveys and Bensons for Beds with a WAULT of 7.50 years.

The purchase price of £5,800,000 reflects a net initial yield of 8.81%.

Richard Bashford commented: "This investment offered a high initial yield and a relatively low capital value per sq ft plus opportunities for asset management. It is likely to benefit from the redevelopment of the china clay site nearby where there are proposals for a major residential development."
[read more]