Tesco Express, Goring-By-Sea

 

104 Goring Way, Goring-by-Sea, Worthing, West Sussex, BN13 4AA

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Freehold
  • Gross Rent: £82,000
  • Lease Term: 15 yrs from Mar '18
  • VAT applicable?: Y

Property Description

  • Freehold Blue-Chip Supermarket Investment.
  • Single storey retail unit, affording servicing to the side and the front, whilst having a forecourt with 17 marked car parking spaces.
  • The total site area is approximately 12,900 sq. ft. (1,199 sq m) on which stands a single storey building comprising about 5,127 sq. ft. (476.5 sq m).

Location Description

  • Worthing is situated on the South Coast 11 miles to the west of Brighton and 59 miles south of London.  The area benefits from good road communications with the A24 providing a direct link north-bound to London and the A27 running east to west along the coast.  Both Worthing and Goring-by-Sea are connected by rail to London Victoria with a journey time of approximately 1 hour 30 minutes.
  • Worthing has a local population of about 100,000 with a higher proportion of professional workers than the national average.
  • Goring-by-Sea is a residential suburb 2.5 miles to the west of Worthing town centre.  The subject property itself is located on the roundabout junction fronting onto the A259.
  • The property is located in a commercial area lying adjacent to Harvest Energy Petrol Filling Station which immediately links into the site.  On the opposite side of the road there is a strong local retail parade.

Additional Notes

  • The entire property is let to Tesco Stores Ltd for a term of 15 years from 25th March 2018 on a full repairing and insuring basis at a rent of £82,000 per annum exclusive, subject to a fixed increase to £92,500 at the 5th year and an open market rent review at the 10th year.
  • The tenant does have an option to break with effect from 25th March 2028, subject to six month’s notice.

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