Waitrose, Northwich Marina

Acting on behalf of a trust, MK2 has advised on the acquisition of a brand new prime food store in Northwich, Cheshire.

The food store comprising approximately 40,000 sq ft is a brand new facility let to Waitrose on a new lease for 20 years incorporating guaranteed rental growth through index linked rent reviews.

Waitrose is the main anchor at the Northwich Marina Development, a prime mixed use scheme comprising retail, residential and leisure uses located at the heart of Northwich town centre.

The acquisition was made via full forward funding at a price of £8.87m reflecting an initial yield of 5.25%.