Tesco Express, East Ham, Greater London

 

326-330 Katherine Road, East Ham, London, E7 8LT

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Virtual Freehold
  • Gross Rent: £55,000
  • Lease Term: 20 years from 17 May '11
  • VAT applicable?: Y

Property Description

  • Virtual Freehold, blue-chip supermarket investment in London.
  • The property comprises an A1 retail unit which forms part of a recently constructed mixed-use development.
  • The unit extends 4166 sq ft over the ground floor and basement.

Location Description

  • The property occupies a prominent position on the corner of Katherine Road and Stafford Road in Forest Gate, within the London Borough of Newham.
  • Surrounding area comprises a mix of residential and commercial uses.
  • The property is in walking distance from both East Ham and Upton Park London Underground Stations.

Additional Notes

  • The property is held Virtual Freehold with a new 999 year lease subject to the existing tenancy remaining in-situ.
  • The unit is let to Tesco Stores Limited on an FRI lease at an initial rent of £55,000 p.a. for a term of 20 years from 17th May 2011 with a tenant only break at year 5,10 and 15.
  • The rent will be reviewed on the fifth, tenth and fifteenth anniversaries of the Term in line with the Retail Prices Index (compounded annually), subject to a cap of 4% and a collar of 0%.
  • The unit extends a total of 4,166 sq ft, with the ground floor being 2,666 sq ft and the basement at 1,500 sq ft.

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