Co-op Food, Southgate, Greater London
43 Friern Barnet Road, New Southgate, London N11 1NDBasic Facts
| Property ID: 5372 | Post Updated: 2020-05-01 06:38:49 |
| Status: Sold | Type: Supermarket |
| 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.
Features
£1m - £5m
Attractive property
Blue-chip tenant
Finance available
Lease term: 10 - 15 years
Suitable for a SIPP
Virtual Freehold
