Morrisons M Local, Bletchley

 

Morrisons M Local, The Wishing Well, Tattenhoe Lane, Bletchley,MK3 7DJ

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Freehold
  • Gross Rent: £50,000
  • Lease Term: 15 years from mid-2015
  • VAT applicable?: Y

Property Description

  • Freehold blue-chip convenience store investment
  • Large island site with parking and uppers
  • Future residential redevelopment potential subject to planning

Location Description

  • Very densely populated residential area
  • No competition in the immediate vicinity
  • Close to two primary schools so the traffic from the schools will only add to the trade during schools hours
  • Close to Windmill Hill Golf Course
  • The property is located on Tattenhoe Lane which is approximately on the same road as Milton Keynes Preparatory School

Additional Notes

  • Entire property leased to WM Morrison Convenience Stores Limited, guaranteed by WM Morrison Supermarkets PLC
  • 15 years on an effectively full repairing and insuring lease. Subject to tenant break at the end of year 10.
  • Initial rent of £50,000 per annum
  • Five yearly rent reviews in line with the RPI capped at 4% and a collar of 1% per annum.

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