INVESTMENT HIGHLIGHTS
- Portfolio containing 5 retail centres leased to a single tenant. The tenant is a public company, one of the largest supermarket chains and retail brands in the UK with revenues exceeding £10bn per annum.
- The assets are premium buildings located in the commercial districts of the following cities in West Midlands: Altrhincham, Chesterfield, Halifax, Sutton and Wolverhampton.
- The population of the cities where the assets are located range from 50,000 inhabitants in Sutton to over 210,000 inhabitants in Wolverhampton. Total population across the 5 cities in the portfolio is over 500,000.
- The portfolio currently generates a total of £3.6m of triple net annual rent with a 2% rent increase per annum. The WAULT is 6.5 years with a renewal option of 40 years with 15 years break clause to OMRV.
- The senior debt in the portfolio is currently at 65% LTV and expiring in July 2021. The Sponsor is looking for a lender that will be able to refinance and replace the existing senior debt. The Sponsor is a well funded investment firm.
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