British Land bags £30m Macclesfield supermarket

  British Land has bought a supermarket in Macclesfield from private clients of Blandford Goldsmith for £30.5m – a yield of 5%.   The 73,500 sq ft store is leased to J. Sainsbury for 29.5 years at an initial rent of £22 per sq ft.   The lease benefits from an RPI linked increase, capped at 4% pa and with a minimum increase of 2% pa.   Bryan Lewis of British Land said: “We are delighted with the acquisition of this first class asset.   “Being the dominant foodstore in the town and supporting a large and affluent catchment, this acquisition should perform well for us.   “With a long secure income stream and high quality tenant this fits well into British Land’s existing supermarket portfolio.”   GL Hearn and NB Real Estate acted for British Land.   james.buckley@estatesgazette.com