Sale of Co-Op Food Store

MK2 Real Estate has advised developer clients on the sale of a brand new convenience store by way of forward commitment.

The standalone convenience store was purpose built for the Co-Op providing ample car parking and comprising of approximately 4,500 sq ft.

The property is let to The Midlands Co-Operative Society Limited on a new 15 year lease with a tenant only break option at year 10.

The property was sold prior to its construction on a forward commitment basis to a private investor for a price of £785,000 reflecting a net initial yield of 6.6%.