The Southern Co-operative

South Coast
Occupier
6
Disposal and sale and lease back of convenience stores
Over 50
enquiries
And multiple offers on properties marketed
Achieved price and yield in excess of client expectations
Challenge

Vail Williams was appointed by the Southern Co-operative to advise on the disposal of six convenience stores, by way of a sale and leaseback, all of which were located throughout the south coast.

How we helped
  • Carried out an in-depth rental analysis on each of the properties
  • Provided structural and condition advice on each of the properties before marketing
  • Advised on rental levels, values and other factors impacting on marketability and price, including term and type of lease and the condition of the property
  • Prepared draft leases prior to marketing, with properties placed in the open market in two traches as individual investments, quoting a range of yields varying form 6 – 6.5% net
  • The properties were well received with several offers in excess of the asking price
  • Negotiated best possible price for the client
  • Pre-disposal support was provided with the production of a schedule of condition for each property
Results

Generated over 50 enquiries, with most parties submitting an offer for either an individual property, two properties or portfolio offers, requiring expert advice to negotiate and bring to fruition.

The Southern Co-operative sold six assets, generating capital to reinvest elsewhere within the company.

The sale and leasebacks represented highly attractive investment opportunities for investors due to the covenant strength, lot size and lease terms.

We continue to use Vail Williams for the majority of our investment work in a property management, valuation, acquisition and disposal capacity throughout our trading region.

“In our two most recent divestment phases Vail Williams have surpassed our expectations on value achieved. We consider Vail Williams’ investment advice to be solid and we continue to see them as our preferred local supplier for all aspects of property investment.”

Daniel Bowyer, Head of Property, Southern Co-operative

Get in touch

If you think you may need similar support to that described here, or you would simply want to have an informal chat with a member of our team to discuss your property needs, get in touch.