The property has an unexpired lease term of 27 years and five yearly reviews to Retail Price Index (RPI) equivalent to a collared at 0-3.5 per cent per annum (p.a.) compounded. 

The supermarket sits on a prominent five-acre site adjacent the A1 dual carriageway, and the agreed price of £46.5 million provides a net initial yield of 3.5 per cent. 

Tom Edson, Director, Head of Out of Town Investment, Colliers International: “Despite recent retail market uncertainty, prime long-let supermarkets are still highly sought-after assets. Using our specialist knowledge of the sector and BlackRock’s long income requirement, Colliers International was able to facilitate an off-market sale which met the objectives of both parties.” 

Colliers International advised the vendor. Hampson Wall advised BlackRock.