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Express Interest in this Property

Sainsbury’s, Nuneaton

299 Queens Rd, Nuneaton CV11 5LZ, UK

Basic Facts

Property ID: 16977 Brochure Link: Download Brochure
Post Updated: 2023-11-08 11:41:54 Status:
Type: Tenure: Freehold
Area: 6569 sq ft Gross Rent: £ 60,000
Gross Yield %: 6 Lease Term: 15 yrs from Aug 2015
Lease Term Expiry Date: 15/08/30 Years left on Lease: 6.2
VAT applicable: No

Property Description

  • Located on a prominent corner position in an established residential location just 0.5 miles west of Nuneaton town centre
  • Ground Floor let to Sainsburys Supermarkets Ltd, comprising 3,607 sq.ft (335 sq.m) with vacant upper parts
  • 25 Associated car parking spaces (6 spaces are allocated to sold off unit on title)
  • Sainsburys unit let on a 15 year lease expiring in August 2030 (No breaks).
  • The break clause in 2025 has been recently removed demonstrating how well the unit trades for Sainsbury Supermarkets Ltd
  • Current rent of £51,194 per annum, however the rent will be topped up to £60,000 per annum as per the anticipated RPI linked rent review in August 2025
  • RPI linked rent reviews every 5 years (capped and collared) 3-18%
  • The site offers immediate development potential on the upper parts subject to planning. We believe PD rights will apply.

Location & Situation

  • Nuneaton is a busy market-town in northern Warwickshire, situated between Leicester to the east (24 miles), Birmingham to the west (24 miles) and Coventry to the south (8 miles).
  • 1 mile from the town centre lies Watling Street which has been highlighted by the The Royal Geological Survey and Ordnance Survey as the exact centre of England.
  • This makes Nuneaton an excellent choice for businesses with country-wide operations. According to the 2021 census, Nuneaton  and Bedworth) has a population of 134,000.
  • The area has a rich history and proud heritage trail with its bustling street market, dating back to the 13th century, drawing in thousands of visitors every week.
  • Benefitted by a wide range of high-street retailers, boutiques, restaurants, historic pubs, vibrant nightlife and beautiful parks, Nuneaton has a lot to offer both residents and visitors.
  • With regular trains, direct from London Euston and Manchester Piccadilly, Nuneaton enjoys excellent transport links to the rest of the country.
  • The M1, M6 and M42 motorways are all less than 25 minutes from the town centre by car.
  • The property itself is situated on the corner of a busy round-about junction just half a mile west of the town centre. Queen’s Road provides main access to the town centre’s main A444 ring-road and the subject property enjoys regular foot fall from the large surrounding residential area as well as those visiting the town centre and nearby parks.

Tenancy & Accommodation Schedule

  • The ground floor is let to Sainsbury’s Supermarkets Ltd on a 15 year FRI lease from 2015, expiring in August 2030 at a current passing rent of £51,194 p.a. and no breaks. (A scheduled break in 2025 has been removed).
  • The lease is subject to RPI linked rent reviews (capped and collared) every 5 years with the next review due in August 2025 which will be topped up to £60,000 p.a

Covenant

  • Founded in 1869 Sainsbury’s is one of the UK’s largest and most recognisable retailers Sainsbury’s operates over 1,400 stores nationwide and employs over 189,000 people with the brand accounting for over 15% of the UK’s total supermarket market share.
  • Sainsbury’s Supermarkets Ltd is rated as 5A1 by Dun & Bradstreet giving it a ‘minimum risk of business failure’ and reported net assets of £5.41bn as of 5th March 2022.

Features

£1m - £5m
£500k - £1m
Attractive property
Blue-chip tenant
Freehold
Lease term > 15 years
No VAT applicable

View on Map

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