Sainsbury’s Convenience Store

Acting on behalf of a local investor MK2 Real Estate has acquired a brand new Sainsburys convenience store for £965,000.  Developed by Hinton Developments the property extends to 4,000 sq ft and is let to Sainsburys Supermarkets on a 15 years lease from June 2015 with a break at year 10 at a rent of £57,500pa.  The rent is reviewed every 5 years to the RPI index capped at 4% and collared at 2%.  The purchase reflects a net initial yield of 5.63%.