Tesco Express and Sue Ryder, 14 Whittlesey Road, Stanground, Peterborough, Cambridgshire PE2 8RJ
Location Estimated District Population: 170,000 Miles: 40 miles north-west of Cambridge 45 miles east of Leicester
Roads: A1(M), A15, A47, A605, A1139
Position The property is located in a prominent position on the southern side of Whittlesey Road (A605) at its junction with Desborough Avenue approximately 2 miles south-east of the City Centre.
Nearby: Post Office, Co-Op Pharmacy and a number of local occupiers
Present Accommodation (approximate areas) Floor
Accommodation Ground Ground Net Internal Areas Tenant
Sales/Ancillary 77.57 sq m (835 sq ft) SUE RYDER (3) Total Commercial Area 437.09 sq m (4,705 sq ft) Term
15 years from 12th April 2010 with RPI rent reviews (2) in 2015 and 2020
10 years from 22nd December 2011 with a rent review and tenant break option in 2016
Total Rent
Rent £ p.a. £48,000
£13,000 £61,000
(1) Tesco trade from about 2,700 stores and for the year to 02/11, Tesco Stores Ltd reported a turnover of £40.1 billion, pre-tax profits of £2.2 billion and total assets of £17.8 billion. (Source: www.tescoplc.com and One Source One-Stop Report)
(2) The lease incorporates upward only rent reviews based on the RPI index which is capped at 4% and collared at 1% – please see lease. (3) Sue Ryder are a national charity with about 350 outlets, who for the year to 03/11, reported a total turnover of £80 million, pre-tax profits of £2 million and total assets of £53.1 million. (Source: One Source One-Stop Report)
NB. Tesco Stores Ltd carried out alterations to the property for the landlord and the Vendor has agreed to make an allowance on completion for the money equal to the outstanding cost – please see legal documentation.
Description CONVENIENCE STORE and SHOP arranged on the ground floor. The property benefits from a large site incorporating parking for about 26 vehicles.
Tenure Freehold.
VAT is not applicable to this lot. Rent £61,000 pa
Prominent Freehold Convenience Store and Retail Investment
• Part let to Tesco Stores Limited until April 2025 (No Breaks) with RPI Rent reviews (collared and capped at 1% and 4%)
• Part let to Sue Ryder until December 2021 (subject to option)
• 26 car spaces and possible further development (subject to leases and consents)
• VAT- free investment and 6Week Completion Available
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 Sloan PlumbWood LLP. t: 01733 302410. e: nick.plumb@spw-law.co.uk Ref: N Plumb Esq. Joint Auctioneers Barker Storey Matthews. t: 01733 897722. e: raj@bsm.uk.com Ref: R Jones Esq.
19 For identification purposes only – please see title documentation.