Valad’s Osprey Fund has sold the freehold of a former Somerfield supermarket in Thetford, Norfolk, to Breckland district council for £3.5m – a 6.75% net initial yield.
The 30,000 sq ft supermarket has been reconfigured to 19,800 sq ft, let to Wilkinsons on a lease with just over 10 years unexpired, and a 10,200 sq ft Poundstretcher store, occupied on similar terms.
The head rent is £8.40 per sq ft, with the next review in March.
Edgerley Simpson Howe advised Valad; Carter Jonas advised Breckland district council.
annabel.dixon@estatesgazette.com
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