Basic Facts
Property ID:
17973
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Brochure Link:
Download Brochure
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Post Updated:
2024-02-06 15:14:43
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Status:
Available
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Type:
Supermarket
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Tenure:
Virtual Freehold
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Area:
3800 sq ft
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Gross Rent:
£ 120,000
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Gross Yield %:
5.5
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Lease Term:
30 Years From April 2009
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Lease Term Expiry Date:
16/04/39
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Years left on Lease:
15
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VAT applicable:
Yes (TOGC Available)
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Property Description
- Virtual freehold (999 years) supermarket investment.
- Retail unit of c.3,800 sq ft arranged over 2 floors.
- This Victorian end of terrace building was previously home to the historic chain Blockbuster.
- Potential to re-develop in the future (subject to necessary consent).
Location Description
- Fronting Uxbridge Road, The immediate location is surrounded by a mix of retail and residential.
- Uxbridge Road is a major thoroughfare that cuts through Shepherds Bush and serves as a hub for various activities.
- Shepherd’s Bush is a district of west London, England, within the London Borough of Hammersmith and Fulham.
- It is well-connected both by public transport and road networks.
- Shepherds Bush is known for its diverse and multicultural population, reflecting the broader demographic trends of London.
- The property is a short walk from the well-known Shepherds Bush Market, nearby are a number of well-regarded independent and national retailers.
Additional Notes
- The property is let on a FRI lease to Tesco Stores Limited on a re-geared lease for a term of 30 years expiring 16th April 2039 (15.3 years unexpired).
- Rent of £120,000 p.a.
- The rent is reviewed every 5th year based on CPI, compounded annually subject to a collar of 1% and cap of 3%.
Features
£1m - £5m
Attractive property
Blue-chip tenant
Lease term > 15 years
No Break clauses
Prime location
Virtual Freehold
West London
Video
https://www.prideviewgroup.com/wp-content/uploads/2024/01/Tesco-Front-Page.jpg