Newsteer advised Macquarie, on behalf of Just Group, on the approximately £400 million acquisition of a ground rent portfolio comprising 55 foodstores across the UK.
The client’s challenge
The transaction required a detailed understanding of long-term ground rent income alongside the occupational, alternative-use and technical risks attached to a geographically diverse foodstore portfolio.
Our solution
Newsteer provided portfolio investment advice covering catchments, foodstore supply, capital and occupational values, trading performance, alternative-use values, title review and environmental and technical due diligence.
Beyond advice: how we added value
By combining investment analysis with specialist foodstore and property due diligence, Newsteer helped the client assess both the security of the income and the underlying real estate supporting it.
Outcomes and impact
The portfolio acquisition completed in December 2023 at approximately £400 million, giving the investor exposure to long-term ground rent income across 55 foodstores.
