The Henderson UK Property Unit Trust has acquired a 73,300 sq ft supermarket in Ripley, Derbyshire.
The fund bought the property for £31m, at a net yield of 4.8%. It is let to Sainsbury’s with a remaining lease of 21 years.
It was acquired from London & Cambridge Properties in an off-market transaction.
Director of property Marcus Langlands Pearse said: “The acquisition fits the strategy of investing in strong long income. The fundamentals of the property being well-located in an area of limited competition are expected to drive future rental growth.”
The Henderson UK Property Unit Trust, which has a low weighting towards high street retail, has invested more than £400m in the year to date across all sectors.
Recent purchases, including a Marks & Spencer store in Nottingham, reflect the fund’s strategy to reweight into core properties with rebased rents in the sector.
Mason Partners LLP advised London & Cambridge Properties.
bridget.o’connell@estatesgazette.com
