Tooting Bec Road, SW17
Acquisition of Foodstore Property, Tooting Bec Road, London
RSJ Investments, advised by Nightingale Partners, has purchased the Freehold interest in 25 Treherne Court, Tooting Bec Road from Alburn Retail Ltd. The purchase price of £1,460,000 represents a net initial yield of 5.25%.
The property comprises a ground floor retail unit totalling 3,488 sq ft, located on Tooting Bec Road. The property is let to Sainsbury's Supermarkets Ltd for a further 12 years, providing a current rental income of £81,000 per annum. The property benefits from annual (uncapped) RPI uplifts with the next review in February 2014.
The property provides attractive investment characteristics due to the strength of the covenant, length of lease and uncapped RPI rental uplifts.
Nightingale Partners represented the purchasers.
