Co-op Food, Teddington, Greater London
210 Kingston Road, Teddington, Middlesex, TW11 9JF
- Freehold Blue-Chip Convenience Store & Ground Rent Investment.
- The property consists of a Ground Floor Retail Unit (3,450 sq. ft.) & 7 self-contained residential apartments above.
- Teddington is an affluent town in South West London, with this property situated on the busy Kingston Road with shops nearby.
- Mostly residential, it stretches from the Thames to Bushy Park with a long high street reaching down to pubs, restaurants, leisure premises, fields and fitness clubs by the riverside, having a pedestrian suspension bridge over the lowest non-tidal lock on the Thames, Teddington Lock. Teddington’s centre is mid-rise urban development.
- Shops nearby Costcutter, Pharmacy, Fish & Chips shop, Thai Restaurants and several independent shops.
- 20 year lease to Sainsbury’s Supermarket Ltd (with mutual 15 year break clause) at initial passing rent of £100,000
- Rent reviews are 5 yearly with annual RPI compounded to a collar 1% and cap 3.5%.
- The lease is assigned to Co-operative Group Food Ltd with guarantee from Co-Operative Group Ltd. There is to be an AGA from Sainsbury’s Supermarkets Ltd.
- 7 flats sold off on long leasehold with £250 ground rent per annum (total £1,750)