FSP acts in £14.9m Waitrose store purchase for Wokingham Borough Council
Wokingham Borough Council has added the Waitrose store in Twyford to its investment portfolio on a purchase and leaseback, to secure rents to finance community services.
Michael Higgin, Partner, and Vicky McDonald, Associate, in the Real Estate team at Field Seymour Parkes, have advised Wokingham Borough Council on its recent purchase and leaseback of the Waitrose store in Twyford for £14.9 million.
The acquisition, from Waitrose Limited, represents a further strengthening of Wokingham Borough Council’s investment portfolio and demonstrates its commitment to invest in borough and to secure a solid income stream to fund social and community services.
The store is leased back to Waitrose for a term of 20 years with fixed rent increases, and with the opening of Crossrail in Twyford and population growth in the area, this investment is an exciting opportunity for the Council with solid future rental income or long-term place-making re-development prospects.