Sainsbury’s Strike While Ion is Hot
February 25, 2011
DCL has completed the sale of the former Ion Bar on Ladbroke Grove to Sainsburys on behalf of Westway Development Trust.
The grocery chain fought off competition from seven leisure operators all competing for the 3,500 sq ft unit, located in Londons W10.
Sainsburys has taken the unit on a new 15 yr lease subject to RPI-linked reviews, at a rent of £110,000 per annum exclusive.
The supermarket will trade alongside local operators including Red Planet, Chicken Cottage, Portobello Road Market as well as a number of independent operators.
Jonathan Moradoff, Davis Coffer Lyons, said: Sales of pubs and bars for alternative use are still on the rise, particularly to food-store operators such as Sainsburys. We have done numerous deals over the past 12 months which have mirrored this trend, proving that Sainsburys is fighting back stronger this year and aggressively expanding on the high-street. Sainsburys are proving very successful when competing for new sites such as this one due to its covenant strength and ability to offer great rental figures.