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)