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Tesco Express, Watford, Greater London


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Basic Facts

Status: Type: Tenure: Virtual Freehold (999 years) Lease Term: 20 years from Aug '13
VAT applicable: Yes

Property Description

  • Virtual Freehold (999 years) blue-chip convenience store investment
  • This prime ground floor foodstore retail investment forms part of Nascot Grange in Watford, a new residential development built by the renowned Scottish housebuilder, Cala Homes
  • The unit measures 4,772 sq. ft.

Location Description

  • Nascot Grange is situated just off Langley Road with leafy surroundings which were home to West Herts College’s Cassio Campus providing the picturesque backdrop for an exclusive collection of 91 houses and 132 apartments ranging from 2 to 5 bedroom homes.
  • Only 20 miles from Central London, Watford is a cosmopolitan and lively town with superior shopping facilities, relaxed dining and a choice of cultural, entertainment and social possibilities.
  • Watford Grammer School for boys and Watford Grammer School for girls are both nearby, as well as Nascot Wood Primary School which is next to the development.
  • Excellent road and rail links ensure Watford is easy to commute to and from, with trains from Watford Junction to London Euston taking less than half an hour, an Underground station on the Metropolitan Line in the centre of Watford and the M25 is less than 2 miles from the development.

Additional Notes

  • Ground floor retail investment let to Tesco Stores Limited on a 20 year lease from 5th August 2013 with a tenant only break clause on the 10th anniversary
  • The rent is £50,000 per annum (exclusive of VAT) with upward only index linked rent reviews on the expiry of the 5th, 10th and 15th years of the term capped at 4% increase.

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