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Co-op Food, Southgate, Greater London


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Basic Facts

Status: Type: Tenure: Virtual Freehold Gross Rent: £ 75,000
Lease Term: FR&I for 15 yrs from Apr '15 VAT applicable: Yes

Property Description

  • Virtual Freehold Blue-Chip Convenience Store i nLondon
  • Forming part of a residential development built in 2015 comprising a Ground Floor Supermarket with a prominent window frontage.
  • Total area approx. 3,935 sq ft.

Location Description

  • Occupying a prominent position at the junction with Station Road, in this retail parade serving this busy mixed commercial and residential area, located approximately 7 miles north of central London.
  • New Southgate enjoys excellent road access via the A406 (North Circular Road) and is well served by public transport with New Southgate Station (National Rail) located opposite.

Additional Notes

  • Virtual Freehold with leasehold for 999 years from 21st April 2015 at a peppercorn ground rent.
  • The property is let to Co-operative Group Food Limited is a wholly owned subsidiary of Co-operative Group Limited which has 3,750 outlets, on a FR&I lease by way of service charge (capped at £2,000 per annum with annual RPI reviews) for a term of 15 years from 20th April 2015 at a current rent of £75,000 per annum exclusive.
  • Rent Reviews 2020 and 2025 & Tenant’s Break 2025.

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