Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Attributes

Property Reference Number 100031408795
Building Area

Property Description

The property consists of a highly prominent purpose-built single storey foodstore, providing 21,948 sq ft of accommodation. Lidl have taken early access (triggering lease term commencement) and the property is currently undergoing tenant fit out with a target opening date of December 2020. Practical completion of the property is due following completion of the associated highway works which are scheduled to finish in November 2020.

Investment Highlights

  • Newly constructed foodstore extending to 21,948 sq ft with 102 car parking spaces
  • Lidl have taken early access triggering lease term commencement. Practical completion due November 2020, with store opening to customers in December 2020
  • Located in Mansfield, a significant and established economic centre in Nottinghamshire
  • Highly prominent trading position, being situated 1 mile north of Mansfield town centre, fronting the busy A60 arterial route
  • Let to the strong covenant of Lidl Great Britain Ltd, 5A1 and minimum risk rated by D&B
  • Lidl is one of Europe’s leading food retailers, now operating over 800 stores in the UK
  • New 25 year full repairing & insuring lease from 15 September 2020, with tenant break options at years 15 and 20
  • 5 yearly upwards only rent reviews linked to RPI (all items) with cap & collar of 1% - 3% pa
  • Rent of £274,350 per annum, reflecting £12.50 per sq ft
  • Freehold


We are instructed to seek offers in excess of £5,150,000, subject to contract and exclusive of VAT.


A purchase at the level reflects an attractive Net Initial Yield of 5.00% assuming standard purchaser costs, with a minimum yield improvement to 5.25% in year 5 and 5.52% in year 10, assuming the base case RPI uplifts of 1% pa.


JLL are also marketing the Lidl in Retford for the same developer, and consideration will be given to a sale of both assets as a package.


Last Updated Date: 20 Oct 2020
Ben Kelly
Ben Kelly
Director - Capital Markets
Bill Martyn-Smith
Bill Martyn-Smith
Surveyor - Capital Markets

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Last Updated Date: 20 Oct 2020

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