LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park
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LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park
HSBC, a client fund of LaSalle Investment Management acquired the Tesco supermarket adjacent to its existing Oxford Shopping Park for a price of £35.959m reflecting a net initial yield of 4.9%, an equated yield of 5.6% and a reversionary yield of 7.81% based upon the assumed RPI uplifts throughout the term from Tesco. The property is let to Tesco Stores Limited with a guarantee from Tesco PLC for a period of 20 years from completion subject to a tenant’s option to extend the term for up to an additional 30 year term at a rent equating to £25.00 per sq ft. The supermarket extends to approximately 65,000 sq ft together with surface car parking for 510 customer cars. Wilkinson Williams acted for LaSalle.
LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park
HSBC, a client fund of LaSalle Investment Management acquired the Tesco supermarket adjacent to its existing Oxford Shopping Park for a price of £35.959m reflecting a net initial yield of 4.9%, an equated yield of 5.6% and a reversionary yield of 7.81% based upon the assumed RPI uplifts throughout the term from Tesco. The property is let to Tesco Stores Limited with a guarantee from Tesco PLC for a period of 20 years from completion subject to a tenant’s option to extend the term for up to an additional 30 year term at a rent equating to £25.00 per sq ft. The supermarket extends to approximately 65,000 sq ft together with surface car parking for 510 customer cars. Wilkinson Williams acted for LaSalle.
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