Tesco Express, Gloucester
Unit 11, Kingsway Local Centre, Thatcham Avene, Quedgeley, Gloucestershire, GL2 2GTBasic Facts
| Property ID: 12237 | Post Updated: 2020-04-03 15:50:34 |
| Status: Acquired | Type: Retail - other |
| Tenure: Virtual Freehold | Area: 4439 sq ft |
| Gross Rent: £ 77,437 | Lease Term: 15 yrs from Jul' 11 |
| Lease Term Expiry Date: 31/07/26 | Years left on Lease: 2.2 |
Property Description
- Blue-Chip Virtual Freehold Retail Investment.
- A new mid terrace retail unit arranged over ground floor only.
- Extensive parking is provided to the front of the terrace for shared customer use, with delivery bay to the rear.
Location Description
- The property is located on the Kingsway Local Centre in Quedgeley, some 5 miles south of Gloucester city centre, 2.5 miles from Junction 12 of
the M5 Motorway via the A38. - Kingsway Local Centre is positioned at the heart of the Kingsway development which comprises 3,500 new houses and a major business park.
- The busy local centre includes a school, community centre, Badhams chemist, Marstons public house, Premier convenience store, Sue Ryder charity shop, Pizza Hut delivery, Asian Fusion restaurant and takeaway and a veterinary practice.
Tenancy
- Ground Floor let to Tesco Stores Ltd on a 15 year FRI lease (no break) from July 2011.
- The current rent is £77,437.58 with next RPI rent review July 2021 (subject to collar & cap of 1% & 4%).
- Fixed increase to circa £90,000 in 2021.
Additional Notes
- The property is held for a term of 999 years from 28th February 2017 at a peppercorn ground rent.
Features
£500k - £1m
Blue-chip tenant
Customer car parking
Finance available
Prime location
Suitable for a SIPP
Virtual Freehold
