London based real estate investment company Aprirose has sold a Sainsbury’s superstore to an unnamed buyer for £33.7m (€39m).
Aprirose and Stars Real Estate Investments acquired the 69,325sqft asset in West Ealing in 2017.
Meenal Devani, CIO at Aprirose, said: “We are very pleased with the sale of this asset, following our investment in 2017.
“The exit of this asset is the realisation of the clear investment strategy we had in place to acquire income-generating properties in Greater London, which will benefit from infrastructure improvements and that are underpinned by exceptional redevelopment potential. We continue to look for similar investment opportunities.”
Cristina Dawson, the head of asset Management at Stars Real Estate Investments, said: “The sale of Ealing in early 2021 signals to us that a well located, high quality, income-generating property can outperform despite the pressures of an economic cycle.
“We are thrilled to have another successful transaction in the London market, and will continue to look for more investments here.”
Shaun Roy, partner and head of specialist property investment at Knight Frank, said: We are pleased to have completed the successful sale of Sainsbury’s Ealing on behalf of Aprirose and Stars Real Estate Investments, with both vendor and purchaser pleased with the outcome.
“Despite the challenges of the past year, we received widespread interest which demonstrates there remains demand for assets with strong underlying fundamentals from a range of investors.”
To read the digital edition of the latest IPE Real Assets magazine click here.
