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Tesco store sells for £51.5m
Acting on behalf of Aviva Investors, Colliers’ Retail Capital Markets has sold the Tesco supermarket in Kettering to Legal & General for £51.5m at a net yield of 5.85%.
The prime 100,000 sq ft store and petrol filling station, is located opposite Kettering Retail Park in the south of the town adjacent to the A14 and is considered the dominant supermarket for the area.
Colliers’ Tom Edson – who advised on the sale – comments: “This year we have seen investor appetite for supermarket investments increase. Buyers now appreciate that while the discounters continue to flourish, the established ‘Big Four’ have started to put their trading woes behind them and are posting some good trading performance.
“This – coupled with long leases and strong covenants – make this sector a safe haven for retail investors.”
tom.edson@colliers.com | +44 (0)20 7344 6554
Scottish expansion
for Holland & Barrett Colliers’ Retail Agency team in Scotland is advising Holland & Barrett on expanding and upgrading its store network north of the border.
New stores have been acquired in Livingston, Ayr, Glasgow and Edinburgh, and further locations are being targeted.
Holland & Barrett International is one of the world’s leading health and wellness retailers and the largest in Europe, supplying its customers with a wide range of vitamins, minerals, health supplements, specialist foods and natural beauty products.
Colliers’ Ross Wilkie – who is advising on the acquisitions – comments: “The brand is both looking to establish new outlets and upgrade its existing presence – as has happened in Livingstonand Ayr”.
ross.wilkie@colliers.com | +44 (0)141 226 1075
Browse | Q3 2017
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