LaSalle acquires Sainsbury’s Superstore in South Woodford for £36.75m
LONDON (December 11, 2017) — LaSalle announces that it has purchased the Sainsbury’s superstore in South Woodford on behalf of a client for £36.75 million.
Located in the heart of the north-east London suburb, the property is let on a new 25-year lease to Sainsbury’s. The site is also underpinned by longer term redevelopment potential to provide a significant mixed-use scheme. The 4.2-acre site comprises a 59,107 sq ft foodstore, a seven-screen Odeon cinema, five high street retail units and a 250 space car park. Jonathan Hawkes, Fund Manager at LaSalle Investment Management, said: “The acquisition fits our strategy of investing in secure income producing assets capable of growth in sustainable long term locations, and is underpinned by a robust land value.” Dale Johnstone, Partner at Allsop, added: “This store is the dominant supermarket in the area and Sainsbury’s has just shown its ongoing commitment by re-gearing it’s lease.”
LaSalle was advised by Allsop. Savills advised the vendor.
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $59.5 billion as of Q2 2018 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
This information is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made by means of a private placement memorandum. Past performance is not indicative of future results.