UK Commercial Property Holdings, the fund managed by Ignis Real Estate, has let 134-138 North Street, Brighton, to supermarket operator Sainsbury’s.
The 5,000 sq ft shop, formerly owned by The Outdoor Group, has been let on a new 15-year lease with five-yearly, upward-only rent reviews to Sainsbury’s. It will pay a rent of £190,000 pa.
Sainsbury’s has also concluded a deal for another store in Brighton, on Carden Avenue.
James Andrews of KLM said: “Demand for the unit was strong because of the clean nature of the floorspace, which few other buildings can offer in this busy location. While competition was fierce, Sainsbury’s moved quickly and concluded legal documentation in a matter of days.”
Kitchen La Frenais Morgan advised Ignis Real Estate; Jones Lang LaSalle acted for The Outdoor Group; Sainsbury’s was not represented.
annabel.dixon@estatesgazette.com
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