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Greater London foodstore investment

London, United KingdomUnlock address

84%

£9.300.000

Retail

#14609

Core

25 Feb 2024

Property Details

Broker

Deactivated

27,993 sq.ft.

2,601 m²

Leasable area

332.23 £/sq.ft.

3,575 £/m²

1

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.00 %

0.40 %

Investment Overview

Located in an affluent London suburb, situated 13 miles north west of Central London. Purpose built supermarket of 27,993 sq ft, with 6 residential flats above on part (sold off long leasehold) and 55 car parking spaces. Limited competing foodstore provision within the store’s catchment. Freehold site extending to 1.07 acres. 18.5 year term with a tenant option to renew for a further 15 years. The passing rent of £397,500 pa reflects a low overall rent per sq ft of just £14.20. 5 yearly rent reviews to RPI, collared and capped at 1% - 3% per annum, compounded. The next review will occur in January 2026. Long term value-add / redevelopment potential. EPC rating of B-45 and two EV charging points.