One-Stop (Tesco Express), Southampton

 

Somerset Avenue, Harefield, Southampton, Hampshire, SO18 5DH

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Virtual Freehold (999 years)
  • Gross Rent: £35,000
  • Lease Term: 15 years from Oct '15
  • VAT applicable?: Y

Property Description

  • Virtual Freehold (999 years) blue-chip convenience store investment
  • Large unit measuring 4,251 sq.ft.
  • The property is arranged on ground floor only to provide a newly built convenience store forming part of a new development, the remainder of which is not included in the sale.

Location Description

  • Southampton is the main commercial and administrative centre of Hampshire, serving a population of some 210,000, and is located 80 miles south-west of London
  • Harefield is a densely populated neighbourhood, 3½ miles east of the city centre.
  • The immediate vicinity is being redeveloped to provide 127 new homes as part of a major, flagship, housing regeneration programme for Southampton which will be completed in the next year

Additional Notes

  • The property is held on a 999 year Virtual Freehold lease from 2016 at a peppercorn annual rent
  • Let to ONE STOP STORES LTD for a term of 15 years from 05/10/2015 FR&I for £35,000 pa
  • 5 yearly rent reviews
  • There is a tenant's break clause in the tenth year

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