Recently Let Supermarket Investment with CPI Linked Rent Reviews
Let to Sainsbury's Supermarkets Limited
New 15 year lease from October 2021 expiring in October 2036 (subject to option)
5 yearly CPI linked rent reviews compounded annually, collared at 1% pa and capped at 3% pa
Includes parking for seven cars
Located in a prominent position on Brighton Road
Lot 9
Auction 13th December 2021
Rent £47,000 per Annum Exclusive
Status Sold
Price £805,000
Sector Supermarket/Convenience
Auction Venue Live Streamed Auction
Property Information
Location
Miles
4 miles east of Sutton
10 miles south of Central London
Roads
A22, A23, A232, M25
Rail
South Croydon
Air
London Gatwick
Situation
South Croydon is a popular South London suburb approximately 10 miles from the City Centre with direct train routes to London Bridge Station and benefits from a bus stop directly outside the property. The property is located in a prominent position on the east side of Brighton Road in a predominantly residential location close to Whitgift School, with other nearby occupiers including Esso Petrol Filling Station, Doves Croydon (Volvo) together with a number of independent offices, shops and restaurants.
Tenure
Long Leasehold. 999 years from completion at a peppercorn rent.
Location
Miles
4 miles east of Sutton
10 miles south of Central London
Roads
A22, A23, A232, M25
Rail
South Croydon
Air
London Gatwick
Situation
South Croydon is a popular South London suburb approximately 10 miles from the City Centre with direct train routes to London Bridge Station and benefits from a bus stop directly outside the property. The property is located in a prominent position on the east side of Brighton Road in a predominantly residential location close to Whitgift School, with other nearby occupiers including Esso Petrol Filling Station, Doves Croydon (Volvo) together with a number of independent offices, shops and restaurants.
Tenure
Long Leasehold. 999 years from completion at a peppercorn rent.
Description
The property comprises a newly fitted out ground floor supermarket, which forms part of a larger building not included in the sale. The property also benefits from parking for seven cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
B. See legal pack at www.acuitus.co.uk.
Description
The property comprises a newly fitted out ground floor supermarket, which forms part of a larger building not included in the sale. The property also benefits from parking for seven cars.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
B. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground
Retail/ Ancillary
378.00 sq m
(4,069 sq ft)
SAINSBURY'S SUPERMARKETS LIMITED (1)
15 years from 04/10/2021 until 03/10/2036 (2)
£47,000 (3)
5 yearly CPI linked rent reviews compounded annually, collared at 1% pa and capped at 3% pa
Total
378.00 sq m
(4,069 sq ft)
£47,000
(1) For the year ending 07/03/2020, Sainsbury's Supermarkets Limited reported a turnover of £24,059,000,000, pre-tax profits of £172,000,000 and total shareholder's equity of £4,723,000,000 (source: NorthRow 08/11/2021). (2) The lease is subject to a tenant option to determine on 04/10/2031. (3) The tenant benefits from 6 months rent free from the commencement of the occupational lease. The Vendor has agreed to top up the concessionary period so that the property produces £47,000 p.a.x from completion of the sale until the end of the rent free period.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
