Tesco Express, Neath

 

Cimla Road, Neath, West Glamorgan, SA11 3UG

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Freehold
  • Gross Rent: £55,000
  • Lease Term: 20 years from Oct '15
  • VAT applicable?: Y

Property Description

  • Freehold Blue-Chip Supermarket Investment.
  • The site was previously occupied as a public house and has recently been developed into a convenience store.
  • The ground floor area comprises an open plan retail unit and ancillary areas including an office, staff W/C, kitchen, bakery and further cold/dry stores.  There is also a private store for deliveries and a car park for circa 15 vehicles to the side.
  • The property sits on a plot of circa 0.33 of an acre and the ground floor Gross Internal Area is approximately 4,440 square feet.

Location Description

  • Neath is a town located in West Glamorgan approximately 10 miles north east of Swansea and approximately 40 miles north west of Cardiff.
  • The town has a population of approximately 20,000 residents.
  • The property is situated in a predominantly residential area and fronts the B4287.
  • The immediate area comprises multiple independent operators which include a local newsagent and a food wholesaler.

Additional Notes

  • The property is let for a 20 year lease term to Tesco Stores Limited on an FRI basis commencing on 5th October 2015, expiring on 4th October 2035. The passing rent is £55,000 per annum with five yearly rent reviews to the open market rent. There is a tenant break in 2025.
  • Tesco Stores Limited is a subsidiary of Tesco PLC the multinational grocery and general merchandise retailer. With over 6,500 stores throughout the UK, Tesco PLC recorded a total revenue of £55,917 million in February 2017.

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