Sainsburys & Coral, 54 Scotland Road, Stanwix, Carlisle, Cumbria
This multi let retail investment was acquired on behalf of Aviva investors on completion of the development from a regional property company.
The property is situated in a prominent location fronting Scotland Road and extends to circa 6,000 sq ft. Aviva acquired the two ground floor premises as the upper floor residential proportion is sold off on a long leasehold interest.
The property is let on two 15 year leases to Sainsbury’s Supermarkets Ltd and Coral Bookmakers Ltd at a total income of £125,000 per annum. The Sainsbury’s lease was subject to 5 yearly uncapped reviews linked to Retail Price Index. The property was acquired for a price in the region of £2M.
For further information please contact Andrew Tucker.