Funds advised by Lodge Quai Advisors LLP have completed the acquisition of two Morrisons supermarkets and associated petrol stations situated in Loughborough and Ilkeston, respectively.
The assets, which total over 130,000 sq. ft., are let on weighted average 17-year leases with inflation-linked rent increases.
Cabot Lodge, Founder, said:
“We are pleased to make our first acquisitions in the UK and are delighted to close on two supermarkets at attractive pricing. The grocery anchored market is compelling from a net lease perspective considering general credit quality, strict planning regimes, and high alternative user value for dominant schemes. We see a clear opportunity in the UK supermarket sector, and are well positioned to capitalise on this.”
LQ have substantial funds for immediate investment and remain positive on the current net lease opportunity set across Europe.