Property investors buy east Cambs Waitrose supermarket for £12.6 million
A property investment group have bought one of east Cambridgeshire’s supermarkets for almost £13 million in a bid to provide “secure, inflation-protected long income”.
The Waitrose store in Brays Lane, Ely was acquired by Supermarket Income REIT plc as part of a portfolio of six stores bought for £74.1 million.
Nothing will change at the Ely store – which was purchased for £12.6m - and it will continue to trade as normal while being leased to Waitrose.
Ben Green, director of Atrato Capital, the investment adviser to Supermarket Income REIT, said: “We are very pleased with this transaction.
“All of the stores have an impressive trading record and are complementary to our existing portfolio, providing further tenant and geographic diversification”.
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The stores are let to Waitrose on new 20-year leases with a tenant-only break option in year 15 and are subject to five-yearly rent reviews.
The stores form a key part of Waitrose’s UK online grocery fulfilment network and offer home delivery and/or click and collect.
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Full store list:
· Waitrose Eastbourne, High Street, BN21 1HR
· Waitrose Edenbridge, Mont St Aignan Way, TN8 5LN
· Waitrose Ely, Bray’s Lane, CB7 4QJ
· Waitrose Oundle, 66 East Road, PE8 4BZ (1)
· Waitrose Sandbach, Flat Lane, CW11 4BE
· Waitrose Sudbury, Station Road, CO10 2SS