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”.
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