Martin Drive, Castlefields, Stafford, Staffordshire

Forward funding of a prime supermarket, in line coffee unit and EV charging investment.

• Located immediately to the west of Stafford town centre, the property forms part of a new 1,500 home development by Taylor Wimpey including a new primary school and doctors surgery.
• A new build supermarket extending to 418.0 sq.m (4,500 sq.ft) pre-let to Sainsbury’s Supermarkets Ltd (15 years), adjoining in line coffee unit extending to 162.5 sq.m (1,750 sq.ft) pre-let to Coffee#1 Ltd (10 years) and a two bay electric vehicle charging hub pre-let to Green Turtle Energy Ltd (30 years)
• Weighted average unexpired lease term to break of 14.1 years
• Sainsbury’s lease subject to five yearly upward only reviews to CPI collared at 1% and capped at 3% per annum compounded
• Green Turtle lease subject to annual increases to CPI review collared at 2% and capped at 3.5%
• Total income £173,000 per annum
• A reserved planning application has been submitted and is due to be approved under delegated powers imminently. The site has an existing outline consent for the proposed use.
• Practical completion November 2026
• Offers are sought for the forward funding of the investment in excess of £2,925,000
• Net initial yield 5.78%, assuming costs of purchase on the site of 4.33%