Stirling Sainsbury's for Isis

Isis Property has purchased an out-of-town Sainsbury's store and adjacent McDonald's restaurant at Stirling, Scotland, from Stannifer for slightly more than£16 million, reflecting a net initial yield of about 5.7 per cent. The 56,430 sq ft (5,240 sq m) Sainsbury's has planning consent for a 15,000 sq ft (1,395 sq m) extension that will be developed by Stannifer and forward funded by Isis Property. McDonald's has 3,200 sq ft (300 sq m) on a 25-year lease expiring in 2024, at£18,000 a year.