£6 million Tesco deal

CBRE Global Investors acquired the 36,000 square foot store and grounds, including the car park, for £6.25 million alongside three other multi-million pound purchases announced recently. The store will continue to be let to Tesco until at least 2031. Ric Crane, Director of Separate Accounts at CBRE Global Investors, said: “These four purchases offer secure, 10-year plus income streams at above-average yields off low rental levels. This meets the requirements of our client and is line with their investment strategy.” A statement from the investment firm, who hold billions of pounds worth of property around the world, read: “Tesco supermarket, Limavady, Northern Ireland, has been acquired for £6.25m. The 36,313 sq. ft. site is let to Tesco until 2031.” On their website, CBRE Global Investors state: “CBRE Global Investors is one of the world’s largest real estate investment management firms with $91.2 billion in assets under management.”