Location Estimated District Population: 54,000 Miles: 6 miles west ofWakefield 9 miles south of Leeds
Roads: A653, M1, M62
Position The property is located in a prominent position on Leeds Road (A653) opposite Bywell Road, in a residential area, about a mile north-east of Dewsbury town centre.
Description CONVENIENCE STORE to be arranged on the ground and first floors. The property will benefit from about 20 car parking spaces.
Tenure Freehold.
Tenant TESCO STORES LIMITED (1)
Lease Term: 20 years from 30th March 2012 (2) Basis: FRI Rent: £45,000 per annum RPI Rent Reviews: 2017, 2022 and 2027 (subject to a cap of 4% and a collar of 0%)
Expiry: March 2032 (3)
VAT is applicable to this lot (but can be a TOGC) – please see Special Conditions of Sale.
(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 a 6 month rent free period from the commencement of the term. The Vendor will top-up the rent from completion of the sale until the expiry of the rent free period – please see Special Conditions of Sale.
(3) The lease is subject to a tenant’s option to break in 2022 and 2027 – please see lease. (4) Proposed floor areas provided by Tesco.
Rent £45,000 pa
Freehold Convenience Store Investment • Let to Tesco Stores Limited
• New 20 year lease from March 2012 (subject to options)
• RPI based rent reviews throughout the term (capped at 4% and collared at 0%)
• Prominent roadside location
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 Addleshaw Goddard LLP. t: 0207 160 3301. e: kathryn.green@addleshawgoddard.com Ref: Ms K Green.