Wigan Sainsbury’s sold for £39.2m
MARUS Properties has sold the freehold of the Sainsbury’s supermarket at Marus Bridge retail park to a fund advised by PRUPIM for £39.2m.
The supermarket underwent a recent extension in 2010 which saw an extra 15,000 sq ft of space added, bringing its total footprint to 56,000 sq ft. This included a new pizza counter as well as a clothing and hardware range. The sale price represents a net initial yield of 4.61%.
Marus Properties is a specialist vehicle backed by a group of private investors including Minto Industrial Property’s Maurice Zoff. It was advosed by niche property consultancy B8 Real Estate and law firm Kuits. The purchaser was advised by Jones Lang LaSalle and Nabarro Solicitors.
The last filed accounts for Marus Properties for 2011 showed that the business had a freehold property asset valued at £41.25m.
