LOCAL AUTHORITY PURCHASES IN-BOROUGH WAITROSE FOODSTORE

Local Authority purchases in-borough Waitrose foodstore.

A Local Authority client of ESH has successfully completed the purchase of an in-borough foodstore asset let to Waitrose.

The foodstore is let for approximately 8 years with ancillary shop income. It also occupies a prominent town centre position, providing in-borough regeneration potential for the Local Authority in the long term.

The Local Authority, advised by ESH, purchased the asset for £9.65m, reflecting a net initial yield of 6.95%.