Co-op Food, Wimbledon

 

23 Durnsford Road, Wimbledon, London, SW19 8GT

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Virtual Freehold (999 years)
  • Gross Rent: £57,000
  • Lease Term: 15 years from Dec '15
  • VAT applicable?: Y

Property Description

  • Virtual Freehold, blue-chip convenience store investment in London
  • This recently constructed prominent property is arranged on ground floor only to provide a large convenience store extending to 314 sq m (3,380 sq ft).

Location Description

  • Wimbledon is a popular and prosperous area of south-west London.
  • Durnsford Road forms part of the busy A218 trunk road which runs between Wandsworth and Colliers Wood.
  • The property is situated in a predominately residential area on the east side of Durnsford Road (A218), between its junctions with Wier Road and Plough Lane.
  • Wimbledon Park Underground Station is approximately 0.5 miles north of the property and Haydons Road Rail Station is 500m to the south.
  • Occupiers close by include Homebase, Ford, Pets at Home, Vauxhall, Topps Tiles and Jewsons amongst others.

Additional Notes

  • The property is at present let to CO-OPERATIVE GROUP FOOD LIMITED for a term of 15 years from 18th December 2015 at a current rent of £57,000 per annum.
  • The lease provides for rent reviews linked to CPI (subject to a minimum 1% and a maximum 3%) every fifth year of the term.
  • There is a tenant option to determine in December 2025.
  • Co-op Food has 2,800 branches nationwide, and for the year ended 4th January 2014, Co-operative Group Food Limited reported a turnover of £10.534bn and a net worth of £756m.
  • The property itself is held for a term of 999 years (less 3 days) from 28th December 2006 at £250 per annum, subject to RPI review on 28th December 2026 and every 20th year thereafter.

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