Tesco Express & 5 Flats, Isleworth, Greater London
- Freehold blue-chip convenience store & residential investment
- The property is comprises a recently refurbished, single self-contained retail unit arranged over ground floor measuring 3,585 sq. ft.
- The property currently benefits from planning consent to construct 5 flats above the existing retail unit.
- The building was originally constructed in the 1970s and is of concrete frame construction with frontage onto Clifton Road.
- Isleworth is an affluent suburb located in the London Borough of Hounslow approximately 1.13 miles (1.86km) north west of Richmond, 1.57 miles (2.53km) north of Twickenham, 3 miles (4.86km) south west of Chiswick and 5.6 miles (9km) south west of Central London.
- The subject property is situated at the junction of Clifton Road and Spring Grove in an established residential area. the property is in close proximity to Isleworth station and West Thames College London.
- There are several residential schemes currently being developed within 2 minutes walk from the subject property to include schemes by Crest Nicholson and Thames Valley Housing.
- Ground floor let to Tesco Stores Ltd on an FR&I lease for 20 years from late 2015 at a rent of £60,000 p.a.
- The rent is reviewed five yearly with a fixed uplift to £65,000 per annum in 2020 then RPI-linked reviews thereafter at 0%-4% collar and capped compounded.
- There is a tenant’s option to determine the lease in year 10 given 6 months’ notice.
- The 5 flats are under construction and will yield additional income once completed