134 High Street, MarlboroughPosted on March 20, 2015
Having worked with other funds across the Savills IM platform, we are delighted to close our first acquisition for the Charities Fund.
Acquired off in house clients of Cluttons, Clay Street acquired the Morrison’s Supermarket situated mid High Street in the affluent market town of Marlborough.
The supermarket sits on an extensive site including additional unused buildings to the rear and a pocket of undeveloped land. At the time of purchase in March 2015 there was not one single vacant retail unit in the town.
With a medium term unexpired lease and a rental tone in line with market rates, we acquired the asset for a price of £2.3m reflecting a net initial yield of 5.75%.