Tesco Express, Hemel Hempstead
Tesco Express,Fletcher Way, Hemel Hempstead, HP2 5SE
- Freehold Blue-Chip Supermarket Investment.
- The property comprises a former public house, which was built in the early 1960’s, which was recently in early 2017 refurbishment and fitting-out to complete the opening of the Tesco Express store.
- The unit measures approximately 3,750 sq ft (G.I.A), with associated vehicle, cycle parking, access, delivery, bin storage and landscaping.
- The car park has been landscaped to provide approximately 26 designated parking spaces for the convenience store.
- Located in a prominent position in the suburb of Highfield in Hemel Hempstead.
- The Tesco Express is situated in a prominent position on the junction of Fletcher Way and Cattsdell.
- The area is mixed with residential housing and large apartment blocks surrounding the property. There is also small retail parade adjacent with a number of A1 and A5 operators occupying the ground floor and residential flats above. A bathroom retail showroom with cafe is located to the east of the site.
- Whilst the property is situated in a densely populated residential suburb, access to the area is very good with links to the M1 motorway network within 2km (1.25m) from the subject property.
- The whole building is let to Tesco Stores Ltd from 5 November 2014 on a new full repairing and insuring 15 year lease.
- Tenant break at year 10 (November 2024), at a commencing rent of £65,000 per annum.
- The lease is subject to 5 yearly rent reviews in line with RPI with a collar of 1% and cap of 4%.