Investment manager Orchard Street has bought a supermarket in Surrey, southern England, on behalf of wealth manager St James’s Place.

Investment manager Orchard Street has bought a supermarket in Surrey, southern England, on behalf of wealth manager St James’s Place.

The 5,500 m2 site in Wallington was bought from Legal & General Property, and is let to Sainsbury’s supermarket on a 20-year lease.

The current annual rental income is €1.9 mln (£1.58 mln) with rises linked to the retail price index.

‘This prime supermarket provides us with good exposure to inflation-linked rental growth,’ said Barney Rowe, partner at Orchard Street. ‘The asset’s excellent location in an affluent suburb of south London underpins our confidence.’

Knight Frank acted for Orchard Street and CBRE acted on behalf of Legal & General Property.