Asda Supermarket Funding, MordenPosted on June 25, 2015
On behalf of a major UK pension fund Clay Street has agreed terms to fund the construction of a pre-let prime South West London Foodstore.
Prominent new build development will comprise a total gross internal area of 10,700 sq ft, with 59 car parking spaces positioned on a large site of 1.09 acres.
Pre-let to one of the largest UK retailers: Asda Stores Ltd on an FRI lease expiring 2035.
The scheme has Open A1 planning and the lease provides for 5 yearly rent reviews linked to RPI, subject to 1%-3%, collar and caps.
A deal was closed at £7.4m reflecting a net yield 4.6%.