Retail

M&S, 1 Albert Street, Nottingham 

 

Price: £16,350,000 - Initial Yield:7.50%

Date: Q4 2019

Acting on behalf of Nuveen Real Estate we advised on the sale of this retail investment to Thackeray Estates for £16.35m, reflecting a net initial yield of 7.50%.

The property is an attractive, purpose built flagship department store totalling 125,145 sq ft. The store is arranged over five floors, and benefits from lower ground, ground, first and second floor sales space.

The property is let in its entirety to the undoubted covenant of Marks & Spencer Plc for a further 9 years, at a passing rent of £1,300,000 p.a.

Contact

Julian Gallagher

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


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