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Sainsbury’s, King Cross

266 Pentonville Road, London, UK

Basic Facts

Property ID: 17857 Post Updated: 2023-12-05 13:20:03
Status: Type:
Tenure: Virtual Freehold Area: 3496 sq ft
Gross Rent: £ 188,697 Lease Term: 15 yrs from 22/08/2014
Lease Term Expiry Date: 22/08/29 Years left on Lease: 5.5
VAT applicable: Yes (TOGC Available)

Property Description

  • Kings Cross is a district in Central London in the borough of Camden and boasts a large and affluent catchment, with an estimated 43,360 people within a 5-minute drivetime of the property.
  • Highly accessible and well-connected by both road and rail, the property is situated immediately adjacent to King’s Cross St Pancras Station, providing fast and frequent direct rail and underground services across London and beyond.
  • The property comprises ground floor retail accommodation across one unit extending to 3,496 sq ft / 352 sq m within the heart of King’s Cross.
  • Fully let to the undoubted covenant of Sainsbury’s Supermarket Ltd, the second largest grocery retailer in the UK with a market share of 14.8% (19.02.2023) and a passing rent of £188,697 per annum.
  • Guaranteed rental uplifts, with the income subject to RPI-linked increases (c&c 1-4%) under the review mechanisms.
  • WAULT of 6.1 years to lease expiry.
  • Held Long Leasehold (Virtual Freehold) on a 999 year term from 18th July 2014 at peppercorn.

Location Description

  • King’s Cross is a bustling neighbourhood with distinct character located within Central London. In the past ten years, the area has undergone significant redevelopment, with a range of new residential, commercial and cultural developments, since it has completely transformed into not only a key office district for London, but a thriving residential neighbourhood. King’s Cross is easily accessible by public transport, with six underground tube lines, two mainline train stations and international high speed rail. London’s five international airports are equally accessible, all are less than an hour away with direct services to Heathrow, Gatwick and Luton.
  • The area has a wide and diverse catchment due to its central location and excellent transport links, including neighbourhoods such as Bloomsbury, Camden Town and Islington as well as parts of North and East London. As a result, the catchment of King’s Cross is diverse in terms of its demographic.

Features

£1m - £5m
Attractive property
Blue-chip tenant
Virtual Freehold

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Current Opportunities

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