Co-operative Convienence Food Store Lindfield Road Eastbourne East Sussex BN22 0AU

Co-operative Convienence Food Store
Lindfield Road
Eastbourne
East Sussex
BN22 0AU

Freehold Supermarket Investment

Let to The Southern Co-operative Ltd until 2029 (no breaks)
Five-yearly RPI linked minimum rental uplifts with rent rising to a minimum of £63,060 p.a. in 2019
Prominent corner position in a densely populated residential area
Approximate site area of 0.23 hectares (0.57 acres)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
9
Auction
22nd October 2015
Rent
£60,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Supermarket Investment

Let to The Southern Co-operative Ltd until 2029 (no breaks)
Five-yearly RPI linked minimum rental uplifts with rent rising to a minimum of £63,060 p.a. in 2019
Prominent corner position in a densely populated residential area
Approximate site area of 0.23 hectares (0.57 acres)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 9
Auction 22nd October 2015
Rent £60,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Supermarket/Convenience
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 3 miles north of Eastbourne town centre, 22 miles east of Brighton, 72 miles south of London
Roads: A22, A27, A259
Rail: Hampton Park Rail
Air: London Gatwick Airport

Situation

The property is situated in a prominent corner location on the western side of Lindfield Road, to the north of Eastbourne town centre and close to The Broadway shopping parade.

Tenure

Freehold.

Location

Miles: 3 miles north of Eastbourne town centre, 22 miles east of Brighton, 72 miles south of London
Roads: A22, A27, A259
Rail: Hampton Park Rail
Air: London Gatwick Airport

Situation

The property is situated in a prominent corner location on the western side of Lindfield Road, to the north of Eastbourne town centre and close to The Broadway shopping parade.

Tenure

Freehold.

Description

The property comprises a ground floor convenience store with first floor ancillary accommodation. The property benefits from an approximate site area of 0.23 hectares (0.57 acres), providing onsite
parking for some 23 cars.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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	Reviews
Ground First	Retail Ancillary	368 sq m Not Measured	(3,961 sq ft) Not Measured	THE SOUTHERN COOPERATIVE LTD (1) (t/a The Co-operative Food) (2)	15 years from 06/10/2014 until 05/10/2029 on a full repairing and insuring lease	£60,000	05/10/2019 and 05/10/2024 (3)
Totals		368 sq m	(3,961 sq ft)			£60,000 rising to a minimum of £63,060 pa in 2019 and £66,277 pa in 2024

(1) For the year ending January 2015, The Southern Co-operative Ltd reported a turnover of £350,505,000, pre-tax profits of £2,366,000 and a total net worth of £89,291,000. (Source: www.riskdisk.com 15/09/2015)
(2)The Co-operative Group is the UK’s fifth biggest food retailer, operating across the country with almost 2,800 local, convenience and medium-size stores. (Source: www.co-operative.com 15/09/2015)
(3) The rent reviews are linked to the Retail Price Index to a minimum of 1% and a maximum of 4% compounded per annum. The rent will therefore increase to a minimum of £63,060 pa in October 2019 and £66,277 pa in October 2024.