Position The property is located on Forton Road (A32) in a busy residential and commercial area on the edge of the town centre.
Nearby: Crown Bingo and Kwik-Fit Rent £48,000 pa
Freehold Convenience Store Investment • Let to Tesco Stores Limited
• New 20 year lease from September 2011 (subject to option)
• RPI based rent reviews • Prominent roadside location
• 30Working Day Completion available
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The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Blake Lapthorn. t: 0238 085 7476. e: nicola.sutton@bllaw.co.uk Ref: Ms N Sutton.
Description CONVENIENCE STORE arranged on the ground and first floors. The property benefits from car parking on site to the rear for about 14 cars.
(2) There is a tenant’s option to break in 2026 – please see lease. (3) Areas provided by the Vendor.
Lease Term: 20 years from 30th September 2011 Basis: FRI Rent: £48,000 per annum Fixed uplifts:
2016, 2021 and 2026 to RPI (subject to a cap of 4% and a collar of 0%).
Expiry: September 2031 (2)
VAT is applicable to this lot (but can be a TOGC) – please see Special Conditions of Sale.
Gross Internal Areas
399.47 sq m 399.47 sq m
(4,300 sq ft) (4,300 sq ft)
(1) Tesco trades from around 2,200 stores and for the year to 02/10 reported a turnover of £38.7 billion, pre-tax profits of £2.4 billion and total assets of £18.6 billion (Source: One Source One-Stop Report).We understand that the tenant is shortly to undergo alterations and shopfitting.