On behalf of Waypoint Asset Management Lunson Mitchenall’s investment team were delighted to advise on the disposed of the Primark in Burton-On-Trent for £6.65m, representing a Net Initial Yield of 4.48%.
The property is let to Primark on a long lease with over 76 years unexpired. Primark is one of the UK most successful retailers and the lease was guaranteed by ABF Investments Plc, therefore providing high quality secure income.
Archie Stead of Lunson Mitchenall “This is a strong trading store which had been recently refurbished and is let of a low rent of circa £8psf.”
“The property provides an extremely long lease to a top UK covenant, these fundamentals saw strong investor appetite which enabled us to secure attractive levels of pricing for our client.”
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