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Sainsbury’s Morden sold to CBRE Investors
3 June 2010
CBRE Investors has completed the acquisition of the Sainsbury’s supermarket in Morden. The supermarket comprises 33,200 sq ft in Morden Town Centre adjoining the underground station and in close proximity to the main bus station. The property was sold for £11.63m reflecting a net initial yield at close to 5%.
AGL acted for the vendor, a private investor client, and Chris Freer-Smith Ltd represented CBRE Investors.
Chris Freer-Smith commented: ‘’The purchase of this long lease supermarket investment provides my Client, CBRE Investors, with both strong income security and exposure to a sector with strong rental growth prospects’’.
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