Sowerby Bridge - Tesco

Let to Tesco until 2034 Passing Rent:£1,029,015.47 per annul Net Initial Yield:5.00% Price:£19,450,000

Fawcett Mead, acting jointly with Doherty Baines, have, on behalf of Threadneedle, sold this purpose built food store in Sowerby Bridge, Halifax.

The asset was purchased by Blackrock for £19.45m, which reflected a net initial yield of 5.00%.

The property is let to Tesco until 2034 at a rent of £1,029,015.47 per annum.

Graham Fawcett commented "We have been very pleased with the number of supermarket investments we have been involved with recently, this was a great instruction and our client was delighted with the price achieved given the issues with the property".