Tesco Express, North Kensington, Greater London

Property Description

• Freehold blue-chip convenience store investment in North Kensington, London.
• Recently refurbished, landmark corner property with a large frontage on North Pole Road.
• The ground floor interest in this property is held as a freehold investment whilst the 5 residential flats on the first and second floors above have been sold off on leases with 100 years remaining and the benefit of the air space.
• Ground floor comprises of 2,383 sq ft and 1,370 sq ft of Basement. Total internal area of 3,753 sq ft.
• Let to Tesco Stores Ltd for 20 years from September 2012 for £97,762.55 per annum. Break option on 2nd September 2027 and 5 yearly rent reviews linked to RPI, collared and capped at 0% and 4% p.a. respectively.

Location Description

• North Kensington is located about 6 miles west of Central London, 1.5 miles north-west of Notting Hill and 2.5 miles west of Kilburn in this densely populated and popular residential suburb.
• The area has excellent road communications with the A40 Westway immediately to the south, providing access to Central London to the east and Uxbridge and the M25 to the west.
• In addition there are London Underground Stations nearby at Ladbroke Grove, White City and Latimer Road.
• The property is situated on the north side of North Pole Road, at its junction with Brewster Gardens.
• Nearby occupiers include Costcutter, William Hill, a Post Office and a number of local traders.