BALANCING THE INVESTMENT

Through our retained position with Marks & Spencer Plc, Cheetham & Mortimer have successfully bought in the freehold interest in 60-64 High Street, Maidenhead - a traditional variety store - from a consortium of private investors.

The majority of the floorspace (62,000 sq ft) was occupied by M&S on a lease with an unexpired term of 950 years at a geared passing rent of £185,000 per annum.  Ordinarily, M&S do not commit capital expenditure to acquiring relevant freeholds but in this instance, the requirement to account for the annual rental commitment over the length of the lease made for compelling exception.

July 2016