Mark Atkins Associates has successfully disposed of a long income supermarket and car park investment in Bromsgrove town centre on behalf of a property company client. The supermarket extends to 9,009 sq ft over ground and first floors, and the adjoining car park extends to 86 spaces. The supermarket is let to Waitrose Ltd and the car park to Bromsgrove District Council. Both leases expire in March and April 2032 respectively, with 5 yearly reviews to compounded CPI collared at 1% and capped at 3% per annum. The total income is £210,064 per annum. The property was sold for £4,150,000 reflecting a net initial yield of 4.75%.
Atlas Real estate acted for the purchaser, a private investor.