Odyssey Partners is pleased to announce the successful refinancing of its Sainsbury’s asset in Beckenham, following the recent completion of a new 12.5 year lease for the supermarket at 181 High Street, Beckenham.
Odyssey Partners has secured a new five-year floating-rate loan with a major international finance house. The refinancing was completed on improved terms, reflecting the strengthened covenant profile and enhanced income security resulting from Sainsbury’s long-term commitment to the site.
Andrew Bygrave, Managing Director of Odyssey Partners, said:
“Sainsbury’s lease renewal was instrumental in achieving improved financing terms. With Sainsbury’s secured on a long-term lease, the asset’s income profile is significantly strengthened, which has been clearly recognised by the lending market.”
“Securing a new five-year floating-rate facility with a major finance house on improved terms is a direct reflection of the asset’s enhanced profile following the completion of Sainsbury’s lease.”
Beckenham’s affluent residential base, strong transport links and established retail offer continue to make it a highly attractive location for national retailers, with Sainsbury’s commitment further reinforcing confidence in the town’s long-term prospects.