The portfolio comprises ten stores. Six of the assets are located across England, with one in Wales, two in Northern Ireland, and one in the Republic of Ireland. The portfolio has a broad geographical spread, with the stores in locations characterised by limited competition and strong catchment fundamentals.
All assets in the portfolio will be fully let to CDS (Superstores International) Limited, trading as The Range, providing investors with a secure, long income profile. The Range will provide a rare 15-year lease term with no break options and built in growth with 5 yearly CPI linked rent reviews (1-3%). The properties will all be on full repairing and insuring (FRI) leases.
Suzie Lisle, Senior Director, UK Retail at CBRE said: “Our client is carrying out this process to recycle capital from its existing freehold portfolio to support further store expansion. The Range is a widely recognised, long-standing business that will provide investors with a stable income in what is becoming an increasingly popular strategy across the retail sector.”
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