Burley Browne acquire Prime Sutton Coldfield Convenience store investment
Acting on behalf of private investor clients, Burley Browne have acquired the freehold investment of 58-62 Walsall Road, Four Oaks, Sutton Coldfield let to Sainsbury’s Local.
The site, formerly a petrol filling station was redeveloped in July 2014 to provide a single storey purpose built convenience store of over 4,500 sq ft together with ten customer parking spaces on a site which extends to 0.35 acres.
The premises are let to Sainsbury’s Supermarkets Ltd for 20 years from 25th July 2014 subject to five yearly rent reviews at a rent of £90,000 per annum exclusive. The vendors were quoting an asking price of offers in excess of £1.62 million but the final sale price is not disclosed.
Peter Browne, Director commented, “we are delighted to have secured such a well let investment for national clients of this firm, particularly so close to our Sutton Coldfield offices. We have been particularly active in the investment market recently and this acquisitions follows the investment sale to a North American Fund of a 127,000 sq ft Logistics Warehouse in Ashby de la Zouch.
To discuss how Burley Browne can assist in acquiring or disposing of commercial investment opportunities across the UK please contact Peter Browne on 0121 321 3441.