Discount Retail Portfolio

Aldi – Anchored Retail Park

Bradford, Yorkshire

 

Description     
Discount retail park pre-let to Aldi, Home Bargains, Starbucks, Greggs and Heron Foods

Purchase Price     
£11 million

Net Initial Yield    
6.15%

Size     
46,000 sq ft

Acquisition Structure     
Pre-let forward funding

Date Acquired     
May 2017

Rent Review     
Aldi, Starbucks and Greggs - Retail Price Inflation (RPI); Home Bargains and Heron Food – Open market value (OMV)

Tenant/Guarantor     
Aldi Stores Limited, TJ Morris Limited (t/a Home Bargains) Starbucks Coffee Company (UK) Limited, Greggs plc and Heron Food Group

Lease Term     
Aldi - 20 years, with no break; Home Bargains – 15 years, with no break; Starbucks – 15 years, with no break; Greggs –  10 years with no break

Lidl food store

Chard, Somerset

 

Description

Discount food store pre-let to Lidl

Purchase Price

£5.5 million

Net Initial Yield

5.75%

Size

23,500 sq ft

Acquisition Structure

Pre-let forward funding

Date Acquired

October 2017

Rent Review

Retail Prices Inflation (RPI)

Tenant

Lidl UK GmbH

Lease Term

25 years from completion of works, with a break right in year 15

Lidl-anchored discount scheme

Cowdenbeath, East Fife

 

Description

Discount retail scheme

Purchase Price

£8.5 million

Net Initial Yield

6.0%

Size

39,310 sq ft

Acquisition Structure

Pre-let forward funding

Date Acquired

October 2018

Rent Review

Lidl - Consumer Price Inflation (CPI)

B&M - Open market value

Tenant/Guarantor

Lidl UK GmbH

B&M Retail Limited

Lease Term

Lidl – 25 years from completion of construction works (with a break at year 15)

B&M – 15 years without break from completion of construction works

The Range

Carlisle

 

Description

Discount retail store

Purchase Price

£4.3 million

Net Initial Yield

6.0%

Size

33,500 sq ft

Acquisition Structure

Built asset

Date Acquired

October 2018

Rent Review

Fixed uplifts of 2% pa

Tenant/Guarantor

CDS Superstores (International) Limited, trading as The Range

Lease Term

19.5 years unexpired, with no break