French SCPI Épargne Pierre Europe buys Ipswich Waitrose & JL at Home for £28.6m

Greenridge Investment Management completed the sale of its purpose-built Waitrose and John Lewis at Home retail warehouse at Futura Park, Ipswich to French SCPI Épargne Pierre Europe for £28.6m, reflecting a 7.1% net initial yield. The property extends to approximately 71,000 sq ft with 409 car parking spaces, is entirely let to the John Lewis Partnership on a long lease with fixed rental uplifts, and provides fully covered income from two of the UK's strongest retail brands. Greenridge generated a significant gain on the 2024 purchase price of £21.9m, consistent with its strategy of acquiring high-quality income-generating retail assets and rotating capital into new opportunities.