Project Kent

Project Kent

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  • 6 Co-Operative convenience foodstores and 4 Petrol Filling Stations (PFS)

  • New build next generation stores with high specification construction

  • Developed by the Co-Operative Group Limited (apart from Colindale)

  • PFS sites are redevelopments of existing stores with strong historic trading performance

  • Sale and leaseback to Co-Operative Group Food Limited

  • Average weighted unexpired lease term of 17.97 years

  • Total current rental income of £1,118,000 per annum

  • 5 yearly reviews to CPI (collar at 1%, cap at 3% per annum)

  • All properties are held Freehold (apart from Collindale - Long Leasehold for 999 years)

  • Offers in the excess of £20,610,000 (STC)

  • Attractive Net Initial Yield of 5.03%

  • Offers will be considered as a portfolio or individually

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