DTZ Investors has acquired a supermarket asset in London from fellow UK real estate investment manager Lothbury Investment Management for £56.2m (€64.9m).
DTZ said the store, situated on 2.5-acre site in Islington is let to Sainsbury’s since 1984. The supermarket chain has recently agreed a new 20-year lease taking expiry to March 2044.
Ben Haller, director at DTZ Investors, said: “This asset is the latest in our investment programme through 2023. There are opportunities amongst the wider market challenges with this core asset offering long and strong income with the potential for significant capital enhancement in the future”.
Freddie MacColl, partner at Knight Frank, said: “We are delighted to have advised DTZ Investors on this core supermarket with rare and exceptional characteristics.
“We have now acted for DTZ Investors on two deals this year where they’ve performed on a 10-working day timeframe and at the agreed price on both occasions.”
Knight Frank acted for DTZ whilst Savills acted for Lothbury.
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