Virtual Freehold, blue-chip convenience store investment in London
This recently constructed prominent property is arranged on ground floor only to provide a large convenience store extending to 314 sq m (3,380 sq ft).
Location Description
Wimbledon is a popular and prosperous area of south-west London.
Durnsford Road forms part of the busy A218 trunk road which runs between Wandsworth and Colliers Wood.
The property is situated in a predominately residential area on the east side of Durnsford Road (A218), between its junctions with Wier Road and Plough Lane.
Wimbledon Park Underground Station is approximately 0.5 miles north of the property and Haydons Road Rail Station is 500m to the south.
Occupiers close by include Homebase, Ford, Pets at Home, Vauxhall, Topps Tiles and Jewsons amongst others.
Additional Notes
The property is at present let to CO-OPERATIVE GROUP FOOD LIMITED for a term of 15 years from 18th December 2015 at a current rent of £57,000 per annum.
The lease provides for rent reviews linked to CPI (subject to a minimum 1% and a maximum 3%) every fifth year of the term.
There is a tenant option to determine in December 2025.
Co-op Food has 2,800 branches nationwide, and for the year ended 4th January 2014, Co-operative Group Food Limited reported a turnover of £10.534bn and a net worth of £756m.
The property itself is held for a term of 999 years (less 3 days) from 28th December 2006 at £250 per annum, subject to RPI review on 28th December 2026 and every 20th year thereafter.