Colliers advise Morrisons on portfolio sale
Colliers UK Retail Investment team has advised WM Morrison on the sale of the Ramsay Portfolio.
Colliers UK Retail Investment team has advised WM Morrison on the sale of the Ramsay Portfolio. The portfolio consists of nine retail warehouse investments and four consented development sites totalling 660,000 sq ft.
The portfolio has 462,916 sq ft of lettable space occupied by 36 tenants. It is 97% occupied, and has an unexpired lease average of 6.27 years.
Tenants include retailers such as Argos, Boots, B&M, Poundstretcher and TK Maxx. Existing total net income for the portfolio is £5,607,009 a year, with average rents of £12 per sq ft.
It was acquired by New River Retail for £69m, reflecting a net initial yield of 7.5%.