Tesco Metro, 119-125 London Road North Lowestoft Suffolk NR32 1LZ

Tesco Metro, 119-125 London Road North
Lowestoft
Suffolk
NR32 1LZ

Major Freehold Supermarket Investment

Let to Tesco Stores Limited on lease extended from original term
Prominently situated on main shopping town centre thoroughfare
Currently let at £5.75 per sq ft with next review in September 2015
Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes

Lot
31
Auction
23rd October 2014
Rent
£220,000 per Annum Exclusive
Status
Sold
Price
£1,750,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Major Freehold Supermarket Investment

Let to Tesco Stores Limited on lease extended from original term
Prominently situated on main shopping town centre thoroughfare
Currently let at £5.75 per sq ft with next review in September 2015
Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes

Lot 31
Auction 23rd October 2014
Rent £220,000 per Annum Exclusive
Status Sold
Price £1,750,000
Sector
Supermarket/Convenience
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 25 miles south-east of Norwich; 10 miles south of Great Yarmouth
Roads: A12, A47, A11, M11
Rail: Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air: Norwich International Airport

Situation

The property is situated on the main retail thoroughfare in the town centre close to the junction with Gordon Road and its two NCP car parks. Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes. To the front of the property there are two bus stops and partial pedestrianisation of the street.

Tenure

Freehold.

Location

Miles: 25 miles south-east of Norwich; 10 miles south of Great Yarmouth
Roads: A12, A47, A11, M11
Rail: Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with first floor storage and
ancillary accommodation. A small mezzanine floor comprises office and storage accommodation while the second floor provides offices and plant rooms. The property benefits from rear loading and servicing with access off Regent Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/(Reversion)
Ground Mezzanine First Second	Sales/Storage Offices/Storage Offices/Staff/Storage Offices Plant	1,918 sq m 108.9 sq m 1,269.8 sq m 77.7 sq m 177.2 sq m	(20,656 sq ft) (1,172 sq ft) (13,669 sq ft) (836 sq ft) (1,907 sq ft)	TESCO STORES LIMITED (1)	35 years from 29/09/1980 extended until 28/09/2019 on a full repairing and insuring lease	£220,000	29/09/2015 (29/09/2019)
Totals		3,551.6 sq m	(38,240 sq ft)			£220,000

(1) For the year ending 23rd February 2013, Tesco Stores Limited reported a turnover of £42,662,000,000, pre-tax profits of £921,000,000 and a total net worth of £3,113,000,000. (Source: www.riskdisk.com 26th September 2014)