Retail

M&S Foodall, Kirby Road, Walton-on-the-Naze CO14 8QP

 

Price: £4,335,000 - Initial Yield:5.00%

Date: Q4 2018

Acting on behalf of LSHIM we advised on the purchase of this proposed development from a Private Investor for £4.335m, reflecting a net initial yield of 5.00%.

The proposed development is on the former site of Martello caravan park and will compromise an open A1 retail store with food consent, with a total floor area of 11,800 sq ft. On practical completion the property will be let to Marks and Spencer Plc on a new 20 FRI year lease with tenant break in the 15th year (6 months’ notice). The passing rent is £231,000 pax, subject to 5 yearly rent reviews.

Contact

Julian Gallagher

Tel: 020 7493 3330
Mob: 07941 413 299
jgallagher@lewisellis.co.uk


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