Sainsbury’s Supermarket, Voyager Drive, Orbital Retail Centre, Cannock, WS11 8XP

Prime food superstore investment with petrol filling station and associated surface level car parking.Prominently located at the junction of the A5, A34 and A460 roads with the M6 Toll road and next to Orbital Retail Park, the dominant out of town retail destination in the area.The premier and largest food superstore in its catchment.Let to Sainsburys Supermarkets Ltd until 1st October 2036. The property therefore benefits from an unexpired term of approximately 24.5 years.Total passing rent of 2,501,803 pa which, after allowances for fit out and the petrol filling station, equates to 22.00 psf.The lease is subject to 5 yearly upward only rent reviews to open market value, with the next review due on 30th September 2016.Modern store, recently extended to 97,168 sq ft (9,027 sq m), benefiting from 520 parking spaces, reflecting a parking ratio of 1:187sq ft.Offers are sought in excess of 47,300,000 (Forty Seven Million Three Hundred Thousand Pounds) for the long leasehold interest in this property, subject to contract and exclusive of VAT. Based on purchasers costs of 5.8%, a purchase at this level would reflect a net initial yield of 5%.

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