Rayleigh: 12 – 14 Eastwood Road

October 2022

-Highly desirable south east foodstore investment
-Passing Rent: £538,701 per annum
-Price: £10,695,000
-Net Initial Yield: 4.72%

Acting on behalf of CBRE IM, Fawcett Mead are pleased to have advised on the sale of this South East RPI linked foodstore investment.

The property is let to Marks & Spencer Plc until 20 July 2035 at a rent of £538,701 per annum. Subject to five yearly upward only rent reviews linked to RPI with a collar and cap of 1% to 4% per annum compounded.

Jonathan Mills commented "Together with our sale of the Co-op on Grays Inn Road for the same fund at CBRE IM, we were delighted to complete on this sale after a competitive bidding process. Having originally advised on the acquisition for the fund it was great see it through to a successful conclusion. We have successfully transacted on a number of M&S let foodstores recently, the investor appetite for which remains strong."

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