January 2019
Investment Sale
Swindon : Cavendish Square

  • Freehold supermarket and pharmacy investment
  • Passing Rent: £199,800 per annum
  • Net Initial Yield: 6.0%
  • Price: £3,127,000
Acting on behalf of CBRE Global Investors, Fawcett Mead has sold this retail investment to Swindon Borough Council. The purchase price of £3,127,000 reflected a NIY of 6%. The property is let to Mid Counties Co-op and Lloyds Pharmacy with a WAULT of 14 years.

Richard Bashford commented: "This property is located in a densely populated busy residential suburb and occupies a large site area. It attracted a strong level of interest and competitive bidding".

Swindon Borough Council was represented by Hartnell Taylor Cook.
[read more]

December 2018
Investment Sale
Bracknell : Co-op, Sparrowhawk Way

  • New convenience store let to Co-op on a 15 year lease. Five yearly rent reviews to CPI with a collar and cap of 1 and 3% pa compounded.
  • Passing Rent: £94,000 per annum
  • Net Initial Yield: 5.00%
  • Price: £1,770,000
Fawcett Mead has recently acted on the sale of this new build convenience investment on behalf of a developer client. The property is situated in the centre of a major new residential development that has seen more than 1,300 homes completed in the last 10 years. The property was sold off market and the sale coincided with Practical Completion. The purchaser was represented by Christopher Dee. [read more]

July 2018
Investment Sale
Isle of Wight : M&S Simply Food, Terminus Road, Cowes

  • Freehold town centre food store with annually received RPI linked income until 2035
  • Passing Rent: £188,803 per annum
  • Net Initial Yield: 4.50%
  • Price: £3,940,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Cowes, Isle of Wight. It is let to the excellent covenant of Marks and Spencer Food Ltd until May 2035. A sale price of £3,940,000 reflects a net initial yield of 4.50%. Jonathan Mills commented: "Food store index linked income is continuing to prove attractive to investors and we are delighted to have completed this sale for our clients, London Metric Plc". [read more]

July 2018
Investment Sale
Penrith : M&S Simply Food, 22-24 King Street

  • Freehold town centre food store with annually index linked income.
  • Passing Rent: £313,303 per annum
  • Net Initial Yield: 4.37%
  • Price: £6,720,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Penrith, which is well let to Marks and Spencer Food Ltd. A sale price of £6,720,000 reflects a net initial yield of 4.37%. Jonathan Mills commented: “Food store index linked income is continuing to prove attractive to investors and we are delighted to have completed this sale for our clients, London Metric Plc”. [read more]

April 2018
Investment Sale
Okehampton : Co-op, Market Street

  • Passing Rent: £215,000
  • Net Initial Yield: 6.0%
  • Price: £3,365,000
Fawcett Mead has recently advised on a lease re-gear and subsequent investment sale of this supermarket investment, which was let to Co-op for a term of 10 years. The property was sold on behalf of Kennedy Wilson to West Devon District Council, and the price of £3,365,000 reflected a NIY of 6%. Savills advised West Devon District Council.

Richard Bashford commented: “After working with the occupational tenant to re-gear the lease and complete their asset management plan, our client was very pleased with the price achieved on this investment sale."
[read more]

February 2018
Investment Sale
Whitstable : Unit 1, 134 Cromwell Road

  • Let to the Southern Co-Operative Ltd on a new 15 year lease
  • Passing Rent: £80,000 per annum
  • Net Initial Yield: 5.38%
  • Price: £1,400,000
Fawcett Mead are pleased to have acted on the sale of this prime retail investment in Whitstable. The property is let to the Southern Co-Operative Ltd on a new 15 year lease without breaks. A sale price of £1,400,000 reflects a net initial yield of 5.38%. [read more]

December 2017
Investment Sale
Cardiff : 4 Station Road

  • Let to The Co-Op Food Group on a new 15 year term
  • Passing Rent: £60,000 per annum
  • Net Initial Yield: 5.40%
  • Price: £1,050,000
Fawcett Mead are pleased to have acted on the sale of this convenience store located in the Radyr area of Cardiff. The property is let to The Co-Operative Food Group Limited for a term of fifteen years. Joe Baio commented "We are delighted to have completed the sale of this well-let convenience store in Cardiff at an attractive price for our client." [read more]

October 2017
Investment Sale
Skewen : 42-43 New Road

  • Let to One Stop Stores Limited
  • Passing Rent: £31,500 per annum
  • Net Initial Yield: 9.21%
  • Price: £330,000
Fawcett Mead are pleased to have acted on the sale of this high-yielding retail investment in Skewen. The property is let to One Stop Stores Limited with a lease expiry in August 2022. A sale price of £330,000 reflects a net initial yield of 9.21%. [read more]

April 2017
Investment Sale
Brackley : Waitrose

  • Let to Waitrose until 2028
  • Passing Rent: £331,377 per annum
  • Net Initial Yield: 5.75%
  • Price: £5,400,000
Fawcett Mead are pleased to have acted on behalf of Savills IM on the sale of Waitrose in Brackley to a private purchaser. The foodstore is let to Waitrose until June 2028 in the affluent Northamptonshire market town. A sale above asking at £5,400,000 reflects a net initial yield of 5.75%. [read more]

November 2016
Investment Sale
St Neots : 31 Market Square

  • Well configured retail unit let to Iceland until 2021
  • Passing Rent: £131,000 per annum
  • Net Initial Yield: 6.50%
  • Price: £1,825,000
Fawcett Mead are delighted to have acted on behalf of Savills Investment Management on the sale of 31 Market Square located in the affluent and thriving market town of St Neots.

The property is let to Iceland Foods Ltd until 2021. The unit comprises 14,700 sq ft of well configured food store accommodation.

The investment was purchased for £1,825,000.
[read more]

July 2016
Letting
Maidenhead : 4 High Street Mall, Nicholson Centre

  • Letting to Smiggle completes in Maidenhead
Fawcett Mead, acting jointly with GCW, have completed a new letting to Smiggle in the Nicholson Centre, Maidenhead.

The property occupies a prime position within the scheme adjacent to Warren James and Claires Accessories.

Our client Vixcroft was very pleased with the result as the tenant mix continues to strengthen within the scheme.
[read more]

March 2016
Investment Sale
Burnley : Queens Lancashire Way

  • Prominent discount food store investment
  • Passing Rent: £100,000
  • Net Initial Yield: 10.70%
  • Price: £882,500
Fawcett Mead are pleased to have acted on the sale of this prominent discount store investment in Burnley.

The property is let in its entirety to Poundstretcher Stores Limited for a period of 25 years from 15th April 2011, expiring in 2036. The rent passing is £100,000 per annum.

The sale price of £882,500 reflects a net initial yield of 10.70%.

Nick Carvey commented, "We are delighted to conclude this sale on behalf of our client. This sale proved challenging as there was uncertainty regarding the tenant break clause, but all parties were very happy with the outcome."
[read more]