Rebased Long Let Indexed Supermarket Investment
The property occupies an extremely prominent corner site, forming part of the highly successful Liverpool ONE development.
The investment is let to the undoubted covenant of Tesco Stores Limited on a new 15-year reversionary lease at a rebased rent which has been reduced by 25%. Tesco have been in occupation since 2008 and have recently regeared the lease, demonstrating the strength of trade and commitment to the site which trades 7 days a week.
We are instructed to seek offers in excess of £7,100,000 (Seven Million One Hundred Thousand Pounds) subject to contract and exclusive of VAT, which will reflect a net initial yield of 6.46% in June 2023, which is forecast to increase to 7.49% in June 2028, assuming 3% pa annual compound indexation. All yields are net of standard purchasers costs.