News

Standard Life agrees south coast foodstore sale & leaseback

Price: £20.25 million Type: Investment Purchase Status: Completed

Standard Life Investments have acquired the Sainsbury’s foodstore situated on the site of the former School of Musketry at Military Road, Hythe.

The 55,000 sq ft store will be leased back to Sainsbury’s for 25 years with rent reviews geared to the Retail Prices Index.
The store was built in 2011 and has been constructed to the highest environmental standards including the installation of a biofuel generator, a rooftop photovoltaic system and a rainwater harvesting system.