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Tesco Express, Twickenham

246 Powder Mill Lane, Hounslow, UK

Basic Facts

Property ID: 18279 Brochure Link: Download Brochure
Post Updated: 2024-03-18 13:01:32 Status:
Type: Tenure: Virtual Freehold
Area: 4157 sq ft Gross Rent: £ 127,500
Gross Yield %: 5.5 Lease Term: 15yrs from 12th Jan 2024
Lease Term Expiry Date: 12/01/39 Years left on Lease: 14.6
VAT applicable: Yes (TOGC Available)

Property Description

  • Newly built, virtual freehold (999 years) supermarket investment
  • Retail unit of c.4,157 sq ft
  • The unit forms part of a larger development project which includes the development of a ground-floor retail unit, a community centre and 15 residential apartments
  • The development includes off-street parking, Bicycle parking and associated hard and soft landscaping

Location Description

  • This property is strategically positioned at a bustling junction connecting Hounslow Road/Hanworth Road (A314) and Powder Mill Lane.
  • A stone’s throw from Hounslow Heath, it resides in a densely populated residential area.
  • Moreover, it sits directly across the street from a substantial c.21-acre logistics hub housing Royal Mail and other freight operators.
  • Twickenham is a charming area located in the London Borough of Richmond upon Thames, in southwest London, England.
  • It’s best known for being the home of Twickenham Stadium, which is the world’s largest rugby stadium and hosts numerous international rugby matches, including the Six Nations Championship and Rugby World Cup matches.
  • The stadium also hosts music concerts and events.
  • Aside from its sports connections, Twickenham boasts a picturesque riverside setting along the River Thames, with lovely parks and green spaces such as Marble Hill Park and Radnor Gardens offering peaceful retreats from the urban hustle.
  • The town centre features a mix of independent shops, cafes, restaurants, and pubs, giving it a vibrant and community-oriented atmosphere.
  • Twickenham also has a rich cultural scene, with theatres like the Mary Wallace Theatre and the Exchange, as well as art galleries and museums.
  • Transport links are excellent, with regular trains from Twickenham station connecting to central London in around 20 minutes, making it an attractive residential area for commuters.
  • Overall, Twickenham offers a mix of sports, culture, and natural beauty, making it a desirable place to live and visit in London.

Tenancy & Covenant Information

  • The ground floor retail unit is let to Tesco Stores Limited on a new 15-year lease from 12th January 2024.
  • Rent of £127,500 p.a. with annually compounded CPI-linked rent reviews every 5th year, collar of 1% and capped at 3%.
  • This unit attracted very strong competition from other supermarket chains, Tesco proved to be the strongest choice of operator to lease the unit to.
  • Tesco Stores Limited is one of the largest supermarket chains in the United Kingdom and a subsidiary of Tesco PLC, with over 2,866 strategically located stores across the UK.

Features

£1m - £5m
Attractive property
Blue-chip tenant
Lease term: 10 - 15 years
North-West London
Virtual Freehold

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