1.Bidfood
Cannock, Birmingham, UK
This property, situated in what is known as the “Golden Triangle” for logistics and distribution real estate in the United Kingdom.
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The Aldi and Home Bargains in Milngavie, Glasgow, was acquired for £11.70m on 17 December 2021 at an acquisition yield of 4.86%. The property comprises a recently refurbished, modern Aldi food-store and a Home Bargains retail warehouse totalling 36 997 sqft. The weighted average unexpired lease term is 13.5 years and the overall rental of £606 211 psft compares to the estimated market rental value (ERV) of £631 000 psft, which is favourably below market. Anchored by an index-linked Aldi food-store accounting for 57% of the total income, combined with a long income Home Bargains retail warehouse accounting for 43% of the income, this investment offers attractive real estate, covenant and lease metrics.
Milngavie, Glasgow
Food-store and retail warehouse
36 997 sqft
Aldi Stores Limited and T.J. Morris Limited (trading as Home Bargains)
Aldi 2 June 2039. Home Bargains 2 June 2034. WAULT 13.5 years.
4.86%
Fully repairing and insuring (ie tenant responsible for all operating costs).
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