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Sainsbury’s Local, Northolt, Greater London


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Basic Facts

Status: Type: Tenure: Virtual Freehold (999 years) Gross Rent: £ 100,000
Lease Term: 20 years from May '17 VAT applicable: Yes

Property Description

  • Virtual Freehold Blue-Chip Convenience Store Investment in London
  • Part of the ground floor of a brand new three storey detached building of brick construction beneath a pitched slate tiled roof.
  • The 4,000 sq.ft. retail unit is situated at ground floor level only with a single residential apartment to the rear of the ground floor and nine apartments at first and second floor levels.
  • Externally, there is designated parking for the Sainsbury’s local to the front elevation for 12 vehicles, including a disabled space and with deliveries to the side elevation.

Location Description

  • The property is located in Northolt Village, 5.6 kilometres (3.5 miles) west of Wembley and 24.6 kilometres (15.4 miles) north west of Central London.
  • The property occupies a prominent position fronting the A312 Mandeville Road, which provides access to Harrow to the north east and Heathrow to the south west.
  • The surrounding area is predominantly residential with a post office and BP petrol station opposite.

 


Additional Notes

  • The property will is let to Sainsbury’s Supermarket limited on a new 20 year lease for £100,000 p.a. from 3 May 2017.
  • The lease is subject to five yearly rent reviews in line with the Retail Price index, with a collar of 1% and cap of 3.5%.
  • There is a tenant only break option in the 15th year.

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