Forward funding of 16,000 sq ft food store pre let to M&S
£3.5 m ( 5.25% net)
Specific product to meet investment needs of a private client
Our client provided us with a brief to acquire a property investment with safe long-term income. The opportunity was identified off market to forward fund the development of an M&S food store on a main arterial route into Darlington.
The transaction was valued in the order of £3.5 m and provided our Client with a brand new store let to M&S by way of a 20 year lease. The process involved committing funds to be drawn down at defined milestones underwritten by an agreement for lease upon practical completion.