Tesco Express, Subway & Papa John’s, Ipswich
283 Duke St, Ipswich, Suffolk, IP3 0BFBasic Facts
| Property ID: 5049 | Post Updated: 2019-06-24 10:41:21 |
| Status: Acquired | Tenure: Virtual Freehold |
| Gross Rent: £ 90,000 | Lease Term: 15 years from Dec '17 |
| VAT applicable: Yes |
Property Description
- Virtual Freehold Blue-Chip, Supermarket & Restaurant Investment.
- Comprising 3 ground floor retail units, configured as: Tesco – 4,249 sqft, Papa Johns 1,075 sqft and Subway 571 sqft
Location Description
- Ipswich, the county town of Suffolk, is situated some 75 miles north-east of London at the junction of the A12 and A14 trunk roads and serves a population of some 133,000.
- Ipswich has undergone extensive rebuilding, principally around the waterfront, which has turned a former industrial dock area into an emerging residential and commercial centre.
- The immediate location comprises new build residential blocks with commercial on the ground floors, and is a few minutes walk from the University of Suffolk
Additional Notes
- The property is held on 999 year lease at peppercorn
- The ground floor is let to Tesco for £90,000 p.a. FR&I for 15 years (no breaks) from December ’17
- Rent reviews are 5 yearly and subject to open market rents, capped at 12.5%
- Tesco have sublet part to Papa Johns and Subway
Features
£1m - £5m
Blue-chip tenant
Finance available
Lease term: 10 - 15 years
No Break clauses
Suitable for a SIPP
Upwards Only Rent Reviews
Virtual Freehold
