BlackRock Real Assets makes off market supermarket acquisition in Borehamwood

The property has an unexpired lease term of 27 years and five yearly reviews to Retail Price Index (RPI) equivalent to a collared at 0-3.5 per cent per annum (p.a.) compounded. 

The supermarket sits on a prominent five-acre site adjacent the A1 dual carriageway, and the agreed price of £46.5 million provides a net initial yield of 3.5 per cent. 

Tom Edson, Director, Head of Out of Town Investment, Colliers International: “Despite recent retail market uncertainty, prime long-let supermarkets are still highly sought-after assets. Using our specialist knowledge of the sector and BlackRock’s long income requirement, Colliers International was able to facilitate an off-market sale which met the objectives of both parties.” 

Colliers International advised the vendor. Hampson Wall advised BlackRock.