Bassi Properties Invests in ‘Student land’ Sainsbury’s Convenience Store
Bassi Properties has purchased a Sainsbury’s Local store in the heart of Nottingham Trent University’s student district.
NG Chartered Surveyors secured the deal on behalf the company, with legal advice provided by Rothera Dowson.
The convenience store in Waverley Street, which opened on 10 October 2012, was formerly the Vernon Arms and was converted by pub operator Marston’s for an undisclosed sum.
Avinash Bassi said: “The acquisition of this property has allowed my company to expand its investments into the retail sector along with its existing office blocks and industrial units.”
Richard Sutton of NG purchased the site for the property investor. Sutton has represented Bassi for a number of years, alongside Tom Redgate of law firm Rothera Dowson.
“The attractions of this investment are obvious. It is slap bang in the middle of ‘student land’, just 200m from Nottingham Trent University’s main city campus and next door to Nottingham High School,” Sutton added.
“My clients are understandably delighted with their purchase. It represents a really solid investment in a difficult market. Opportunities such as this one are highly sought after and we’re delighted to have been successful here.”