Supermarket property supremacy shown in three key LondonMetric Property deals

Published by

Stephen Emerson

Lidl is expanding its reach

The dominance of food retailers in commercial property has been highlighted by three lets completed by LondonMetric Property.

The London-headquartered firm has completed three long term lets in the South East of England at retail parks in Ashford, Totton and Tonbridge which will generate £1.2 million of contracted rent.

At Totton in Southampton, Lidl has signed a 20 year lease on space currently held by Poundstretcher while at Ashford in Middlesex, LondonMetric has signed a new 25 year lease with Lidl on the former Hitchcock & King unit.

At Tonbridge, the property firm has let a 14,000 sq ft unit to Food Warehouse on a new 15 year lease in spaced formally occupied by Go Outdoors which fallen into administration.

Mark Stirling, property director of LondonMetric, said:

"We have continued to take advantage of the polarisation within the retail market to strengthen our exposure to select grocery occupiers. These transactions have not only improved our rental income and lease lengths but also replaced weaker occupiers with stronger credits that better reflect changing consumer shopping patterns."

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.