Sainsbury's Local, 23 Lawnswood Road Wordsley Stourbridge West Midlands DY8 5PH

Sainsbury's Local, 23 Lawnswood Road
Wordsley
Stourbridge
West Midlands
DY8 5PH

Freehold Supermarket Investment

Entirely let to Sainsbury's Supermarkets Ltd
Five yearly RPI uplifts (subject to minimum 1.5% and maximum 3.5%)
Located in a densely populated residential area
Busy corner position with on-site car parking for approximately 20 cars
Producing £68,760.43 p.a.x. rising to a minimum of £74,074.51 p.a.x. in 2022 (2) (3)

Lot
22
Auction
28th March 2018
Rent
£68,760 per Annum Exclusive
Status
Sold
Price
£960,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trustees of a Major Pension Fund

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Freehold Supermarket Investment

Entirely let to Sainsbury's Supermarkets Ltd
Five yearly RPI uplifts (subject to minimum 1.5% and maximum 3.5%)
Located in a densely populated residential area
Busy corner position with on-site car parking for approximately 20 cars
Producing £68,760.43 p.a.x. rising to a minimum of £74,074.51 p.a.x. in 2022 (2) (3)

Lot 22
Auction 28th March 2018
Rent £68,760 per Annum Exclusive
Status Sold
Price £960,000
Sector
Supermarket/Convenience
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trustees of a Major Pension Fund

Property Information

Location

Miles: 13 miles west of Birmingham, 9 miles south of Wolverhampton
Roads: A491, M5, M42
Rail: Stourbridge Junction
Air: Birmingham International Airport

Situation

Wordsley, with a population of approximately 13,000, is an attractive, prosperous suburb of Stourbridge some 9 miles south of Wolverhampton and 13 miles west of Birmingham. The property is prominently located in a densely populated residential area at the junction of Lawnwood Road and Wordsley Green, approximately 150 metres from the High Street (A491). Immediately adjacent is a neighbourhood shopping centre with Subway, Spar and a number of independent retailers. Wordsley Green Doctors Surgery, Wordsley Library and The Mere Education Centre are also nearby.

Tenure

Freehold.

Location

Miles: 13 miles west of Birmingham, 9 miles south of Wolverhampton
Roads: A491, M5, M42
Rail: Stourbridge Junction
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property, a former public house, comprises a ground floor supermarket with rear storage and ancillary accommodation. The basement and first floors are not currently accessible. The site extends to approximately 0.36 acres (0.15 hectares) and benefits from approximately 20 car parking spaces including 2 disabled bays.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx GIA)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground Basement First	Supermarket/ Ancillary Not used Not used	309.50 sq m Not measured Not measured	(3,330 sq ft)	SAINSBURY'S SUPERMARKETS LIMITED (1)	15 years from 20/08/2012 on a full repairing and insuring lease (2)	£68,760.43	RPI linked review in 20/08/2022 (3) (19/08/2027)
Total		309.50 sq m	(3,330 sq ft)			£68,760.43

(1) For the year ending 11th March 2017, Sainsbury’s Supermarkets Limited reported a turnover of £23,234,000,000, pre-tax profits of £342,000,000 and a total net worth of £4,353,000,000 (Source: Experian 12/02/2018).
(2) The lease provides for a tenant only option to determine on 20/08/2022 subject to six months’ prior written notice.
(3) The rent review is linked to RPI subject to a 1.5% per annum compounded collar and 3.5% per annum compounded cap. The August 2022 rent review will therefore be to a minimum of £74,074.51 p.a.x. and a maximum of £81,665.82 p.a.x.