A client of Smith Price has sold the Food Giant store in North End, Wisbech, Cambridgeshire (pictured right) to an unnamed trust for £3.9m, reflecting an initial yield close to 8.5%.
The 4,663.6 sq m (50,200 sq ft) store is set on a 1.82ha (4.5 acre) site with 350 parking spaces. It is let to Somerfield trading as Food Giant at £337,000 pa. The lease has 34 years unexpired and the next rent review is in November 1999.
The purchaser was represented by Ereira Mendoza.
EGi News 09/04/97
