Mayfair Capital Bags Former Tesco Store for £3.26m

The National Investment team has advised Mayfair Capital’s Property Income Trust for Charities on the acquisition of a former Tesco supermarket on New Hall Street in Stoke-on-Trent for c. £3.26m reflecting a net initial yield of 8%.

The 90,000 sq ft store is now let to outdoor equipment retailer Go Outdoors on a 15-year lease with fixed rental increases after Tesco relocated to a store on Clough Street in the city.

Gerald Eve’s Henry Giles, who acted for Mayfair Capital said: “This purchase was an attractive one for the Property Income Trust for Charities due to the guaranteed rental growth throughout the long unexpired term.”