Tenancy & Accommodation
| Floor |
Use |
Floor Areas
Approx sq m (1) |
Floor Areas
Approx sq ft (1) |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
| Ground |
Convenience Store/Ancillary |
509.00 |
(5,478) |
TESCO STORES LIMITED (2) (t/a Tesco Express) |
15 years from 02/06/2023 |
£70,000 (3) |
02/06/2028 and 02/06/2033 (4) |
| First |
Vacant |
- |
- |
VACANT |
|
- |
- |
| Total |
|
509.00 |
(5,478) |
|
|
£70,000 (3) (5) |
|
(1) Areas provided are for the whole building and are provided by the EPC register (www.gov.uk/find-energy-certificate).
(2) For the year ending 26/02/2022, Tesco Stores Limited reported a turnover of £44,793,000,000, a pre-tax profit of £1,260,000,000 and a net worth of £16,008,000,000 (www.northrow.com)
(3) The lease provides for a 9 month rent concessionary period at half rent from 02/06/2023 until 02/03/2024. The seller will pay the buyer a sum equivalent to the rent that would of been due to be paid in absence of the rent concession period. Therefore the property will produce £70,000 per annum exclusive from completion of sale.
(4) Rent reviews are upwardly only but capped at an increase of 12.5% over the rent review period.
(5) Heads of Terms have recently been agreed for the letting of two electric vehicle charging bays each at £5,750 p.a. - please see legal pack.
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