Tesco, 90A Henderson Street Bridge of Allan Nr Stirling FK9 4HP

Tesco, 90A Henderson Street
Bridge of Allan
Nr Stirling
FK9 4HP

Heritable Retail Investment

Let to Tesco Stores Limited on a new 20 year FRI Lease until 2031 (subject to option)
Guaranteed Rental Increases with Rent Reveiws to RPI (subject to a minimum of 1% and a maximum of 4%)
Attractive and affluent historic spa town
14 car parking spaces
The property is held in a Single Asset Company which could be available by separate negotiation
Nearby occupiers include Royal Bank of Scotland, Lloyds Pharmacy and Lloyds TSB Scotland

Lot
36
Auction
10th July 2012
Rent
£50,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Heritable Retail Investment

Let to Tesco Stores Limited on a new 20 year FRI Lease until 2031 (subject to option)
Guaranteed Rental Increases with Rent Reveiws to RPI (subject to a minimum of 1% and a maximum of 4%)
Attractive and affluent historic spa town
14 car parking spaces
The property is held in a Single Asset Company which could be available by separate negotiation
Nearby occupiers include Royal Bank of Scotland, Lloyds Pharmacy and Lloyds TSB Scotland

Lot 36
Auction 10th July 2012
Rent £50,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Supermarket/Convenience
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 3.8 miles north of Stirling 31 miles north-east of Glasgow
Roads: M9, A9, A84, A91
Rail: Bridge of Allan
Air: Glasgow Airport, Edinburgh Airport

Situation

The attractive and highly affluent spa town of Bridge of Allan is home to Stirling University and is a popular Edinburgh and Glasgow commuter town. The property is prominently located on the south side of Henderson Street, the town’s primary retail thoroughfare.

Tenure

Heritable.

Location

Miles: 3.8 miles north of Stirling 31 miles north-east of Glasgow
Roads: M9, A9, A84, A91
Rail: Bridge of Allan
Air: Glasgow Airport, Edinburgh Airport

Situation

Tenure

Heritable.

Description

The property comprises a ground floor retail unit benefiting from a car park accommodation, some 14 car parking spaces.

Note
Sainsburys offered to lease this unit for a rent of £55,000 per annum exclusive, however the Vendor signed this lease with Tesco as they committed to undertake a substantial amount of additional development works amounting to an estimated £100,000 of additional capital expenditure beyond their standard fit out.

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	Retail	369.50 sq m	(3,977 sq ft)	TESCO STORESLIMITED (1)	20 years from 2nd November 2011 until 2031 (2)	£50,000	2nd November 2016
Totals		369.50 sq m	(3,977 sq ft)			£50,000

(1) For the year ending 26th February 2011 Tesco Stores Limited reported a turnover of £40,149,000,000., pre-tax profits of £2,243,000,000 and a net worth of £6,954,000,000. (Source: www.riskdisk.com)
(2)The lease provides for a tenant option to determine the lease on the expiry of the 10th year subject to 12 months written notice and a penalty equivalent to 12 months rent.