Discount Retail Portfolio

Aldi – Anchored Retail Park
Bradford, Yorkshire
Description      
Discount retail park pre-let to Aldi, Home Bargains, Starbucks, Greggs and Heron Foods
Size      
46,000 sq ft
Acquisition Structure      
Pre-let forward funding
Date Acquired      
May 2017
Rent Review      
Aldi, Starbucks and Greggs - Retail Price Index; Home Bargains and Heron Food – Open Market Value
Tenant Guarantor      
Aldi Stores Limited, TJ Morris Limited (t/a Home Bargains) Starbucks Coffee Company (UK) Limited, Greggs plc and Heron Food Group
Lease Term      
Aldi - 20 years, without break; Home Bargains – 15 years, without break; Starbucks – 15 years, without break; Greggs –  10 years , without break
Lidl food store
Chard, Somerset
Description
Discount food store pre-let to Lidl
Size
23,500 sq ft
Acquisition Structure
Pre-let forward funding
Date Acquired
October 2017
Rent Review
Retail Price Index
Tenant Guarantor
Lidl UK GmbH
Lease Term
25 years, with break in year 15
Lidl-anchored discount scheme
Cowdenbeath, East Fife
Description
Discount retail scheme
Size
39,310 sq ft
Acquisition Structure
Pre-let forward funding
Date Acquired
October 2018
Rent Review
Lidl - Consumer Price Index and B&M - Open Market Value
Tenant Guarantor
Lidl UK GmbH and B&M Retail Limited
Lease Term
Lidl – 25 years, with a break in year 15; B&M - 15 years, without break
The Range
Carlisle
Description
Discount retail store
Size
33,500 sq ft
Acquisition Structure
Built asset
Date Acquired
October 2018
Rent Review
Fixed uplifts of 2% pa
Tenant Guarantor
CDS Superstores (International) Limited
Lease Term
19.5 years, without break
Aldi – Anchored Park
Evesham, Worcestershire
Description      
Discount park pre-let to Aldi, Home Bargains and TK Maxx
Size      
41,513 sq ft
Acquisition Structure      
Pre-let forward funding
Date Acquired      
December 2018
Rent Review      
Aldi - Retail Price Index ; Home Bargains and TK Maxx – Open Market Value
Tenant Guarantor      
Aldi Stores Limited, TJ Morris Limited (t/a Home Bargains) and TJX UK Limited (t/a TK Maxx)
Lease Term      
Aldi - 15 years, without break; Home Bargains – 15 years, without break; TK Maxx – 15 years, with break in year 10
Lidl – Anchored Park
Andover, Hampshire
Description      
Discount park pre-let to Lidl, Starbucks and Greggs
Acquisition Structure      
Pre-let forward purchase
Date Acquired      
January 2019
Rent Review      
Lidl – Fixed uplifts of 2%; Starbucks – Retail Price Index; Greggs – Open Market Value
Tenant Guarantor
Lidl UK GmbH
Lease Term      
Lidl - 25 years, with a break in year 15
Aldi led scheme
St Albans, Hertfordshire
Description
Aldi led scheme with ancillary B&Q and Costa
Size
18,567 sq ft Aldi and 46,313 sq ft B&Q
Acquisition Structure
Pre-let forward funding
Date Acquired
June 2019
Rent Review
Aldi – Fixed uplifts of 2%; B&Q and Costa - Retail Price Index
Tenant Guarantor
Aldi Stores Limited, B&Q Plc and Costa Limited
Lease Term
Aldi - 25 years, without break; B&Q - 15 years, without break; Costa - 20 years, without break