Lytham Aldi
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Lytham Aldi bought in £23m deal

The discount food retailer’s outlet in Lytham has been bought by LXi REIT as part of a wider £23m investment.

Lytham St Anne’s Aldi is 25,000 sq ft and was completed by Lancashire-based developer-contractor Worthington Properties in 2013. The £9m scheme on Clifton Drive North included the Aldi store, along with 34 apartments which sit above.

The property has been let to Aldi on a long lease with 19 years remaining. The rental uplifts are fixed at 2.5% per year and the current passing rent equates to £10/sq ft.

Within the same deal, LXi REIT has also forward funded an 85-bedroom Premier Inn in Romford, London, and a 35,000 sq ft servicing and sales centre for Mercedes commercial vans and trucks in Smethwick, Birmingham.

These acquisitions are funded by the REIT’s revolving credit facility, which was announced in July. The company is not developing its investments or assuming the associated risks but is instead forward funding each property on a fixed price basis. LXi Reit will receive an income from the developers during the construction periods.

John White, partner of LXi REIT, said: “We are pleased to be acquiring, on an off-market basis, these attractively-priced assets let on long leases to strong tenant covenants across robust sectors with high residual values, which are expected to provide our shareholders with further diversified, secure and inflation-linked income and capital growth potential.”

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It’s not in lytham its st Anne’s on the sea. Get it right.

By Peptide

St Anne’s on the Sea NOT Lytham st Anne’s. Its not difficult.

By Anonymous

There isn’t an Aldi store in Lytham, it’s in St. Annes.

By Derek Matthews

St. Anne’s is the name of the town where the Aldi store in question is situated. At least that’s what the Town Council call themselves! Lytham host a Lidl and Booths store. There’s also a Booths store on Heyhouses Lane in St. Anne’s.
Lytham St Annes is the old pre-postcode era postal town which also included Fairhaven, Ansdell and St. Annes-on-Sea.

By Peter R.

To put you ALL straight the address IS officially:
Lytham St Annes FY8 2EU

By Anonymous

Not in Lytham
Its St Anne’s on sea

By Kath

It’s st annes not Lytham

By Anonymous

You are all sounding like a bunch of snobs, if it was a Mark’s and Spencer’s you probably wouldn’t say anything, Aldi is a world wide buisness and has a massive turnover,

By A

We have a M&S and Booths in St Annes On Sea, Lytham doesn’t have a M&S. Oh we also have the Open Golf not Lytham.

By Anonymous