Topland Group has put a £500m portfolio of Marks & Spencer stores up for sale.
The 76-asset portfolio includes 13 M&S stores in London, including those in Camden, Chiswick, Clapham and Putney.
CBRE has been appointed to sell the portfolio which totals 3.5m sq ft with a rent roll of £31.4m. The price reflects a net initial yield of 5.87% rising to 6.92% through annual escalations.
Topland Group bought the stores in a sale-and-leaseback deal for £348m in 2001.
Peter Arduino, capital markets executive director at CBRE said: “This is a fantastic portfolio, which will offer investors the rare opportunity to acquire a perfect mix of prime high street units, 95% of which are let to one of the UK’s leading retailers.
“The portfolio will provide a stable income on fixed uplifts and valuable asset management opportunities. There is no doubt it will attract significant interest from the UK and global market, which is lacking a supply of interesting stock.”
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