Tesco Express, Hemel Hempstead

 

Tesco Express, Fletcher Way, Hemel Hempstead, HP2 5SE

Offers in excess of
N/A
Managed
Type - Commercial
Tenant type - Supermarket
  • Tenure: Freehold
  • Gross Rent: £65,000

Property Description

  • Freehold Blue-Chip Supermarket Investment.
  • The property comprises a former public house, which was built in the early 1960’s, which was recently in early 2017 refurbishment and fitting-out to complete the opening of the Tesco Express store.
  • The unit measures approximately 3,750 sq ft (G.I.A), with associated vehicle, cycle parking, access, delivery, bin storage and landscaping.
  • The car park has been landscaped to provide approximately 26 designated parking spaces for the convenience store.

Location Description

  • Located in a prominent position in the suburb of Highfield in Hemel Hempstead.
  • The Tesco Express is situated in a prominent position on the junction of Fletcher Way and Cattsdell.
  • The area is mixed with residential housing and large apartment blocks surrounding the property. There is also small retail parade adjacent with a number of A1 and A5 operators occupying the ground floor and residential flats above. A bathroom retail showroom with cafe is located to the east of the site.
  • Whilst the property is situated in a densely populated residential suburb, access to the area is very good with links to the M1 motorway network within 2km (1.25m) from the subject property.

Additional Notes

  • The whole building is let to Tesco Stores Ltd from 5 November 2014 on a new full repairing and insuring 15 year lease.
  • Tenant break at year 10 (November 2024), at a commencing rent of £65,000 per annum.
  • The lease is subject to 5 yearly rent reviews in line with RPI with a collar of 1% and cap of 4%.

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