We are delighted to announce the purchase of two stores from British Land in Beaumont Leys, Leicester for £63.4m.
The first store is a Tesco Extra with a gross internal area of 149,321 sq.ft (GIA) and has a purpose built online fulfilment facility that is used to service 18 delivery vans. The store was originally developed in the 1980s and subsequently refurbished and extended in 2007 to a net sales area of 97,000 sq.ft (NSA). This Tesco’s has a 12 pump petrol filling station and shares over 700 parking spaces. The store is subject to 5-Yearly, OMV-linked, upward only rent reviews on full repairing and insuring terms.
The second store is a newly built Aldi that has a 18,600 sq.ft gross internal area (GIA) and adds further tenant diversification to our direct portfolio. The store is subject to 5-Yearly, RPI-linked, upward only rent reviews on full repairing and insuring terms.
Ben Green, Director at Atrato Capital said:
“We are pleased to have acquired a further omnichannel Tesco Extra, with this asset operating as a key online grocery fulfilment hub for Tesco.
“The Aldi acquisition provides further tenant diversification for the portfolio. Furthermore, we believe this site offers valuable asset management opportunities."