Sainsbury’s Local & 2 Flats, Bromley, Greater London

Property Description

• Freehold blue-chip convenience store and residential investment in London
• The property is a three storey mid terrace retail building comprising retail accommodation on the ground floor (3,136 sq .ft.) and ancillary accommodation at the rear of the first floor (2,470 sq. ft.).
• There is a self-contained two room flat at the front of the first floor and a self-contained two room flat on the second floor.
• The property benefits from rear access and loading.

Location Description

• Affluent South London suburb location
• Hayes is an attractive and popular district within the London Borough of Bromley and is located some 3 miles south of Bromley town centre which is approximately 13 miles south-east of the City of London and some 5 miles east of Croydon.
• The property is located on the east side of Station Approach some 100 metres north of Hayes Railway Station. Neighbouring occupiers include Boots, Coral, Barclays Bank, McColls and Day Lewis Pharmacy.

Additional Notes

• The entire property is let to Sainsbury’s Supermarkets Ltd for a term of 15 years from November 2015 FR&I for £83,875 p.a.
• Reviews are 5 yearly from March 2020. The lease provides for the rent to be increased in line with the Retail Price Index (RPI) subject to a minimum of 1.5 percent and a maximum of 3.5 percent. The RPI increases will be compounded over 5 years.
• The lease includes a contractual right for the tenant to renew the lease for a further two terms of 15 years from expiry.
• The tenant has sub-let the flat on two Assured Shorthold Tenancies at a total current rent reserved of £15,600 p.a.x.