Aviva checks out of South West Sainsbury’s store

Aviva Life and Pensions UK is looking to offload a Sainsbury’s store in Taunton for more than £17m. The 50,159 sq ft freehold store on Billet Road is let to Sainsbury’s Supermarkets until September 2032 on rent of more than £1.3m pa, with five-yearly RPI-linked rent reviews. Colliers, which is marketing the asset, said the asking price reflects a net initial yield of 7.23%, growing to 8.27% in September 2027, after the deduction of purchaser’s costs of 6.74%. See occupational sale comparables in Taunton >> Photo © Amer Ghazzal/Shutterstock