CBRE brings £67m sale-and-leaseback portfolio of 10 stores to market
CBRE has brought a £67m sale-and-leaseback portfolio of 10 The Range stores to market.
Six of the assets are located in England, with one in Wales, two in Northern Ireland, and one in the Republic of Ireland.
The Range will provide 15-year lease terms on the properties with no break options with five-yearly CPI-linked rent reviews. The properties will all be on full repairing and insuring leases.
Suzie Lisle, senior director of UK Retail at CBRE, said: “Our client is carrying out this process to recycle capital from its existing freehold portfolio to support further store expansion. The Range is a widely recognised, long-standing business that will provide investors with a stable income in what is becoming an increasingly popular strategy across the retail sector.”