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%.
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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.”
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February 2022
Food Store Aquisition
Littlehampton : Tesco Superstore - Broad Piece

  • Food store investment let to Tesco Stores Limited
  • Passing Rent: £2,400,000 per annum
  • Price: £52,750,000
  • Net Initial Yield: 4.26%
Fawcett Mead are delighted to have advised a US based investor on the acquisition of the Tesco Superstore in Littlehampton. The 75,000 sq ft property comprises a dominant food store with surface car park and on-site petrol filling station and is let to Tesco Stores Limited on a 25 year lease, expiring in 2036.

Jonathan Mills commented: “We are pleased to have acquired this long income, index linked food store on behalf of our clients. The market for such assets remains fiercely competitive and we were pleased to secure Littlehampton on an off market basis from an institutional vendor.”

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October 2021
Food Store Investment
Liverpool : Queens Drive Retail Park

  • Food store investment let to Aldi and M&S Foodhall
  • Passing Rent: £506,000 per annum
  • Price: £10,200,000
  • Net Initial Yield: 4.65%
Acting on behalf of LondonMetric, Fawcett Mead are delighted to have advised on the sale of this well let food store investment in Liverpool.

The 29,000 sq ft property is let to M&S Foodhall until 2031 and Aldi until 2036, offering a WAULT of approximately 12.5 years.

Jonathan Mills commented "We were delighted to have completed on this off market sale to a well known food store investor who we targeted specifically for this asset. This follows on from the recent successful sales of M&S Foodhalls in Haslemere and Ferndown for LondonMetric, demonstrating the continued appetite for well let food store investments and is a further vote of confidence in the attractiveness of the M&S covenant."

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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.”
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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."
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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."
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February 2021
Investment Sale
Guildford : 148-150 High Street

  • Prime high street supermarket let to Sainsburys until 2032.
  • Passing Rent: £805,000 per annum
  • Price: £14,800,000
  • Net Initial Yield: 5.10%
Fawcett Mead are delighted to have advised Legal & General Investment Management on the sale of 148-150 High Street, Guildford. The 32,000 sq ft foodstore is arranged over ground and two upper floors and is let entirely to Sainsburys until 2032.

The £14,800,000 sale price reflects a NIY of 5.10%.

Jonathan Mills commented "We were delighted to complete on this off market sale to an overseas investor who we had identified as having a specific requirement that matched the subject propertys characteristics. This follows on from our sale of the Waitrose in Clapham Junction for Legal & General and demonstrates the continued appetite for high street foodstore investments."
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February 2021
Investment Acquisition
Stratford-Upon-Avon : 24-26 Bridge Street

  • A prime convenience store together with a former Laura Ashley offering asset management and development potential.
  • Price: £3,750,000
Acting on behalf of private property company, Fawcett Mead have purchased the freehold interest of 24/26 Bridge Street, Stratford-Upon-Avon. The property comprises a prime convenience store let to Tesco Express with an unexpired term of 9 years, together with a vacant former Laura Ashley offering asset management and development potential.

Tom Heptonstall commented "We are very pleased to have secured this asset in Stratford-upon-Avon and look forward to working with our client to enhance the value of the former Laura Ashley unit, whilst benefitting from the secure income from the Tesco unit.

Many thanks to TW Keil who acted for the vendor.
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December 2020
Investment Sale
Heptagon Portfolio

  • Fawcett Mead are delighted to have advised on the sale of this food store portfolio to LXI REIT PLC. The portfolio was exchanged within just 9 days.
  • Price: Quoting £23.45m
Fawcett Mead are pleased to have advised on the disposal of 7 Co Operative food stores located throughout the UK.

James Mead commented "We are delighted to have advised Investec on this supermarket portfolio. The seven food stores represented a secure, index linked group of long leases to the undoubted covenant of the CO-OP. The level of interest was very good and with a number of new entrants to the market reviewing and bidding on the assets".
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July 2020
Investment Sale
Clapham Junction : 36-46 St Johns Road

  • 100% prime retail investment on St John’s Road, Clapham Junction. Let to Waitrose, Superdrug and L’Occitane
  • Passing Rent: £1,066,745 per annum
  • Price: £25,000,000
  • Net Initial Yield: 3.99%
Fawcett Mead has recently advised Legal & General on the sale of this prime, multi-let retail parade in Clapham Junction. 66% of the current income is secured to Waitrose until 2029. The sale price of £25,000,000, reflects a Net Initial Yield of 3.99%.

Jonathan Mills commented: “We are delighted to have completed successfully on this sale at an attractive exit price for Legal & General, in evidence of the continued attractiveness of the foodstore market in an otherwise very uncertain environment. The property was sold off market to a pension fund investor who we had identified as having a specific requirement for an investment that matched the subject property’s characteristics. The sale follows on from our £138m acquisition of Shopstop, Clapham Junction for DTZI and clearly demonstrates the continued investor appetite for Central London retail investment opportunities.”


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December 2019
Lease Renewal
Romford : Iceland

  • Fawcett Mead are pleased to complete a renewal to Iceland in Romford on behalf of Nuveen Real Estate. The tenant extended their lease for a further 5 years at a rent of £95,000 per annum.