DTZ Investors checks out London supermarket deal

DTZ Investors has acquired a Sainsbury’s supermarket in London from Lothbury for £56.25m.

The 67,426 sq ft store in Islington has been continuously occupied since 1984, and comprises 35,000 sq ft of sales area along with a 131-space car park.

Sainsbury’s has recently signed a new 20-year reversionary lease bringing its expiry to March 2044. Following this, the supermarket is understood to be investing a considerable amount into the store, which sits adjacent to the Angel Shopping Centre on Liverpool Road.

Ben Haller, director at DTZ Investors:  “This asset is the latest in our investment programme through 2023. There are opportunities amongst the wider market challenges with this core asset offering long and strong income with the potential for significant capital enhancement in the future”.

Freddie MacColl, partner at Knight Frank, which acted for DTZ Investors, added: “We are delighted to have advised DTZ Investors on this core supermarket with rare and exceptional characteristics. We have now acted for DTZ Investors on two deals this year where they’ve performed on a 10-working day timeframe and at the agreed price on both occasions.”

Savills acted for Lothbury.