Co-op Food, Teddington, Greater London

Property Description

• 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.

Location Description

• 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.

Additional Notes

• 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)