Saturday’s bombing in Northern Ireland has failed to deter J Sainsbury from further investment in the province.
The superstore giant has taken a new lease on a 3,716 sq m (40,000 sq ft) retail warehouse from Value & Income Trust at Newtownabbey, near Belfast, for 35 years at an initial rent of £500,000pa, rising to open market value or £600,000 pa in 2005. Rent reviews will be five-yearly, upwards only and thereafter to open market value.
The property was previously let to Hampden Group, trading as Texas, at £298,000pa on a lease expiring in August 2005 with an upwards only rent review in 2000.
J Sainsbury has now applied for planning permission for a new supermarket on a site of which this forms a part.
EGi News 17/08/98
