Osprey Equity Partners is selling a £188m portfolio of prime retail and leisure assets.
The Navigator portfolio is a newly built long-income portfolio – with an average unexpired lease term of 24 years – let to institutional grade covenants.
The assets have been forward-funded by a variety of Osprey-managed funds and Osprey’s backer, the Hong Kong family office LJ Group, over the past three years.
Acquired and developed on an individual basis, the nine assets include a 131-bedroom Premier Inn and a 72-bedroom Travelodge in the South East, three Aldi-anchored properties and four Sainsbury’s and Tesco superstores in Cambridgeshire, the Midlands and the North.
The portfolio is 100% let with five-yearly upwards-only rent reviews at a passing rent of £9.6m. The asking price reflects a net initial yield of 4.8%.
CBRE and Prime Retail Property Consultants are selling agents.
