Tesco Express, East Ham, Greater London

Property Description

• Virtual Freehold, blue-chip supermarket investment in London.
• The property comprises an A1 retail unit which forms part of a recently constructed mixed-use development.
• The unit extends 4166 sq ft over the ground floor and basement.

Location Description

• The property occupies a prominent position on the corner of Katherine Road and Stafford Road in Forest Gate, within the London Borough of Newham.
• Surrounding area comprises a mix of residential and commercial uses.
• The property is in walking distance from both East Ham and Upton Park London Underground Stations.

Additional Notes

• The property is held Virtual Freehold with a new 999 year lease subject to the existing tenancy remaining in-situ.
• The unit is let to Tesco Stores Limited on an FRI lease at an initial rent of £55,000 p.a. for a term of 20 years from 17th May 2011 with a tenant only break at year 5,10 and 15.
• The rent will be reviewed on the fifth, tenth and fifteenth anniversaries of the Term in line with the Retail Prices Index (compounded annually), subject to a cap of 4% and a collar of 0%.
• The unit extends a total of 4,166 sq ft, with the ground floor being 2,666 sq ft and the basement at 1,500 sq ft.