Law Firm Closes Second Supermarket Portfolio Sale

A supermarket is a self-service shop offering a wide variety of food, beverages and household products, organised into sections.

Law firm Dentons has closed its second supermarket portfolio sale for the John Lewis Partnership in the space of a week. The freehold of six Waitrose supermarkets have been acquired by real estate investment trust Supermarket Income REIT for £74.1m.

Waitrose & Partners is a brand of British supermarkets, founded in 1904 as Waite, Rose & Taylor, later shortened to Waitrose.

Waitrose was acquired in 1937 by employee-owned retailer John Lewis Partnership, which still sells groceries under the brand. Its head offices are located in Bracknell and Victoria, England.

The stores, which will continue to trade as normal, will be leased back to Waitrose for 20 years.

Located in Eastbourne, Edenbridge, Ely, Oundle, Sandbach and Sudbury, the stores have an average gross internal area of 32,000 sq ft.

Last week Dentons advised the John Lewis Partnership on the sale and leaseback of five Waitrose Limited stores to property investor LondonMetric for £62 million.

Deepa Deb was assisted by associates Amy Smith, Alexis Condie, Rachel Dunn and Calum McKenzie.

Over the past year, Dentons’ UK Real Estate team has advised on several high profile transactions such as Doosan Babcock’s continued occupation of its site in Renfrew, Sports Direct’s sale and leaseback of its Derbyshire distribution centre, and the sale of the Hampton by Hilton at Bristol Airport to Ability Group.

Dentons has launched several tools for businesses over the past few months to help with real estate issues related to COVID-19 across England, Wales and Scotland, including the COVID-19 Interactive Agreement Tool Kit and COVID-19 Interactive Lease Tool Kit.

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