Basic Facts
Property ID:
4496
|
Post Updated:
2019-06-24 10:41:32
|
Status:
Acquired
|
Type:
Supermarket
|
Tenure:
Freehold
|
Gross Rent:
£ 50,000
|
Lease Term:
15 years from mid-2015
|
VAT applicable:
Yes
|
Property Description
- Freehold blue-chip convenience store investment
- Large island site with parking and uppers
- Future residential redevelopment potential subject to planning
Location Description
- Very densely populated residential area
- No competition in the immediate vicinity
- Close to two primary schools so the traffic from the schools will only add to the trade during schools hours
- Close to Windmill Hill Golf Course
- The property is located on Tattenhoe Lane which is approximately on the same road as Milton Keynes Preparatory School
Additional Notes
- Entire property leased to WM Morrison Convenience Stores Limited, guaranteed by WM Morrison Supermarkets PLC
- 15 years on an effectively full repairing and insuring lease. Subject to tenant break at the end of year 10.
- Initial rent of £50,000 per annum
- Five yearly rent reviews in line with the RPI capped at 4% and a collar of 1% per annum.
Features
£1m - £5m
Blue-chip tenant
Customer car parking
Finance available
Freehold
Large plot
Lease term: 10 - 15 years
Minimum Rental Uplifts