Aviva Investors offloads Sainsbury’s supermarket in Taunton
Aviva Investors has sold a Sainsbury’s supermarket in Taunton, Somerset to an undisclosed buyer.
The purpose-built, 50,159 sq ft foodstore on Billet Street is let on a full repairing and insuring lease to Sainsbury’s until September 2032.
The supermarket’s current passing rent is £1.31m, reflecting £26.14 per sq ft, and is subject to five-yearly RPI uplifts.
The store sits on 2.45 acre site in Taunton town centre and is supplemented by a 244-space car park.
Nearby retailers include Savers, Primark, KFC, McDonald’s, Marks & Spencer, and Sports Direct.
Taunton is the primary retail, commercial, and administrative centre for the county of Somerset. It has an affluent catchment population and its commercial centre is home to two shopping centres; County Walk and the Orchard Shopping Centre.
The final sale price was not disclosed, however the property had been handed a price tag of £17m, reflecting a net initial yield of 7.23%.
Colliers acted for Aviva Investors, while JLL acted on behalf of the purchaser.