Colliers International’s retail capital markets team, acting on behalf of LaSalle Investment Management, the global investment manager, has completed on the sale of the Morrisons, Lawley Square, Telford, to Supermarket Income REIT for £14.25 million.
The 42,500 sq ft store is let to WM Morrison Supermarkets Plc until November 2037, with a break clause in 2032.
Tom Edson, Head of Retail Capital Markets at Colliers, who acted for the vendor commented: “Supermarket operators have adjusted well to the Covid-19 crises and managed to see an increase in sales. This positive momentum has in turn drawn in commercial property investors. This sale on behalf of LaSalle was another opportunity to capitalise on this demand, whilst giving Supermarket Income REIT exposure to a well-placed inflation linked supermarket in the growth area of Telford.”
Morgan Williams acted for Supermarket Income REIT.