A former Staffordshire supermarket now occupied by a major charity has changed hands in a deal brokered by commercial property consultancy Johnson Fellows.
West Midlands-based investor SSK Assets has acquired the 12,518 sq ft retail unit at Eastern Avenue, Lichfield, for an undisclosed sum.
Currently occupied by The Salvation Army Trading Company Ltd on a 10-year lease, the former purpose-built supermarket has 61 parking spaces and attracts an annual rental income £120,000.
It is located in a prominent roadside position on Eastern Avenue and close to both Imperial Retail Park and Lichfield Retail Park. Occupiers nearby include Bensons for Beds, Carpet Right, Halfords, Pets at Home, Wickes, Topps Tiles, Majestic Wine, Lidl, Pure Gym, B&M and Costa.
Johnson Fellows’ agency partner Chris Gaskell acted on behalf of Lidl while Chris White, of White Rose, acted for SSK Assets.
Chris Gaskell, who works alongside Lidl on the acquisition and disposal of sites across the country, said: “It is hugely satisfying to have completed another disposal on behalf of Lidl. We are working hand in hand with Lidl to dispose of land and property that is no longer required while also identifying sites for new supermarkets.
“The Eastern Avenue site, which has an outstanding occupier, was surplus to requirements and we are therefore delighted to announce that it has been acquired by SSK Assets.”
Johnson Fellows, established in 1984, is based in Birmingham with offices also in London and Manchester. The practice acts for a wide variety of clients including retailers, investors, developers, financiers and occupiers of commercial property. Services include agency, lease advisory, property management, building surveying and valuation. In particular, the firm advises many of the UK’s leading national multiple retailers on a nationwide basis.