Anchored by a Waitrose, the deal sees three adjoining retail units sold to a UK REIT.
The 29,350 sq ft property is fully let and located on a two-acre site on the edge of the town.
Since completion in 2012, the property has been held within Henry Boot’s investment portfolio.
Waitrose accounts for 82% of the income, with the weighted average unexpired lease term of 10.9 years.
- The Finance Professional Show 2025: The Video
- Henry Boot secures permission for 1,000 Kent homes
- Henry Boot issues profit warning
The sale represents a net initial yield of 6.6% and a premium to the 31st December 2025 book value.
“This disposal reflects the group’s focus on recycling capital from its investment portfolio, ensuring we remain well positioned to deploy capital to continue generating long?term returns,” said Tim Roberts, CEO at Henry Boot.
“We will continue to be patient in building back the value of the investment portfolio through high?quality projects such as Origin, in line with our medium?term target.”
Leave a comment