Client: Private Property Company
Instruction: Investment Purchase
Private clients informed us of their requirement to secure an investment of a food store to balance their existing portfolio and instructed us to identify a suitable opportunity. We introduced the availability of the new Waitrose store in Marlow to our client and successfully acquired the investment.
Waitrose had acquired a new leasehold interest in the premises for a term of 15 years on a full repairing and insuring lease from 23rd June 2010, at a commencing rent of £307,000 pa and subject to fixed uplifts in year 6 and year 11 of £355,897 pa and £412,582pa respectively.
The premises were formerly occupied as offices and a change of use was obtained to retail on ground and first floors. Waitrose undertook the conversion works to create the new food store accommodation.
Marlow has a very affluent population with excellent communications links with the M4 and central London and this provided an added attraction to our client.