Bruce Gillingham Pollard have advised London Metric PLC on the acquisition of 5 food stores, let to Waitrose, for £62 million. All 5 stores are let on new 20 year leases. The stores range in size from 27,000 sq ft to 43,000 sq ft, located in Keynsham, Malmesbury, Paddock Wood (Kent), Towcester and Yateley.
Long income assets have become increasingly sought after, especially in those businesses which have proved resilient during the COVID 19 pandemic. Grocery shopping has been one of those star performers. Even as the level of online grocery shopping has increased, these stores should act as fulfilment centres for both Waitrose and John Lewis in the wider region.