In July 2022 we completed the sale of a Leeds based retail and leisure development tenanted by Aldi Supermarket, OneBelow and Pure Gym, generating a return of 1.57x for investors.
At the time of the original investment all three of the leases had five yearly upward only rent reviews and two were linked to the Retail Prices Index. The purchase price was at a significant discount to comparable assets which had recently been marketed or traded at levels around. Part of this was down to the 'forward funding' nature of the acquisition. Further benefits accrue from buying properties this way since stamp duty land tax is payable on the value of the land only.