Henderson Property Unit Trust have purchased the Asda supermarket investment at Wigmore Lane, Luton, LU2 9TA for a price of £40.175 million from AXA Real Estate, reflecting a net initial yield of 4.26%. The Asda supermarket extends to around 81,000 sq ft, with 382 car parking spaces and a petrol filling station, close to Luton Airport. There is a single overriding lease to Asda for a further 18 years at a current rent of £1.81 million per annum, with 5 yearly upward rent reviews to RPI, uncapped.
Cushman & Wakefield acted for the purchaser and the vendor was advised by Wilkinson Williams.
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