Columbia Threadneedle brings pair of Sainsbury’s Local stores to market
Columbia Threadneedle Investments has brought a pair of Sainsbury’s Local convenience stores to the market, seeking offers of over £7.4m in total.
The first store is located on Nightingale Road in Balham, London, and has been valued at £4.6m. It spans 4,047 sq ft of accommodation and produces an annual rental income of £247,070.
The recently-developed store is supplemented by a petrol filling station which can service up to eight cars at a time.
The second store is located on Hill Lane in Southampton and is being offered for £2.5m. The property is let to Sainsbury’s for a term of 20 years expiring June 2033, and produces an annual rental income of £148,156.
The lease is subject to five-yearly index-linked uplifts geared to RPI, collared at 2% and capped at 4%. Sainsbury’s previously agreed to remove the June 2023 break option, highlighting its commitment to the location.
Green & Partners has been appointed to find suitable purchasers for the properties.