Track record

Investment acquisition, Basingstoke

CBRE Global Investors

Identified a semi off market foodstore opportunity for a longstanding client

Investment, Basingstoke

Investment

Service

£33M

Project value

Retail & Leisure

Industry

Martin Carey

Martin Carey

The project

Rapleys Investment team identified a semi off market foodstore opportunity for a longstanding client with requirements for an asset in the sector with a long lease and index linked rent reviews. Asda Basingstoke provided in excess of 20 years with 5 yearly RPI rent reviews compounded annually with a 1% and 3% collar and cap.

Basingstoke provided the right criteria for the fund and we put the property under offer quickly. The team provided all the necessary information and comparable evidence for the Fund to make an offer, which was accepted and the deal was put into legals. Following inspections, alternative use valuations and after carrying out all legal due diligence, including confirmation of the new freehold boundary, negotiating rights of access over common parts, car parking rights and a service charge contribution, the acquisition was successful.

Our solution

  • Sourced the opportunity
  • Identified and engaged a suitable purchaser
  • Inspected the property and carried out all due diligence
  • Oversaw the legal process of carving out a new freehold
  • Successful investment acquisition

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Partner & Head of Commercial – Commercial

Martin Carey

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