150 Strand Road - Sainsburys, Londonderry, CLY

The property comprises a purpose built food store of steel frame construction with masonry walls and a profile metal roof. The property was constructed in 1999. A feature curved glazed tower provides a panoramic view over the River Foyle.
The property is located on Strand Road, 0.5 miles from Londonderry city centre. The property is accessed from both sides of the city via the Foyle Bridge to the north and Craigavon Bridge to the south.

Sale Notes:
The investment opportunity comprises a large supermarket and 0.65 acre development site situated on the main arterial route heading north from Derry city centre.
Offers in excess of £19,400,000 for the food store and adjoining development site reflecting a net initial yield of 5.36%.
The property is let to Sainsbury's Supermarkets limited for a term of 25 years from 3 December 1999 (expiring 02/12/2024). The lease is drafted on full repairing and insuring terms and is subject to upward only rent reviews every 5 years. The next rent review is due on 3 December 2014.
The current passing rent is £1,100,000 per annum. 10,050 sq ft sub-let to AIB Group (UK) Plc