Location Estimated Resident Population: 36,000 Miles: 6 miles south of Oxford 65 miles south of Birmingham
Roads: A4183, A34, M40
Position The property is located about 1
⁄2 mile north-east of the
town centre in a prominent position on Oxford Road (A4183), the main arterial route into Abingdon town centre from the north.
Description CONVENIENCE STORE arranged on the ground and first floors. The property benefits from car parking to the front and a car park to the rear with 22 marked spaces.
Accommodation
Sales/Ancillary Ancillary
Total Commercial Area
Tenure Freehold.
Tenant TESCO STORES LIMITED (1)
Lease Term: 20 years from 1st April 2011 Basis: FRI Rent: £50,000 per annum RPI Rent Reviews: 2016, 2021 and 2027 (subject to a cap of 4% and a collar of 0%)
Expiry: March 2031 (2)
VAT is applicable to this lot – please see Special Conditions of Sale.
Present Accommodation (approximate net internal areas) Floor
Ground First
Net Internal Areas
247.57 sq m 44.59 sq m
292.16 sq m
(2,665 sq ft) (480 sq ft)
(3,145 sq ft)
(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 is subject to tenant break options in 2021 and 2026 – please see lease.
Rent £50,000 pa
Attractive Freehold Convenience Store Investment • Let to Tesco Stores Limited
• New 20 year lease from April 2011 (subject to options)
• RPI rent reviews throughout the term (capped at 4% and collared at 0%)
• Affluent Oxfordshire market town • 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 Rooks Rider. t: 0207 689 7000. e: ashalet@rooksrider.co.uk Ref: A Shalet Esq.