Tesco Express, Poplar, Greater London

 

571 Manchester Road, Poplar, London, E14 3NX

Offers in excess of
N/A
Sold
Type - Commercial
Tenant type - Supermarket
  • Tenure: Virtual Freehold (999 years)
  • Gross Rent: £75,000
  • Lease Term: 20 years from Apr '14

Property Description

  • Virtual Freehold blue-chip supermarket investment in London
  • Forming part of a uniquely shaped building with a double frontage
  • Retail unit with ancillary storage arranged over the ground and first floors with a size totalling 5140.89 sq ft
  • The upper floors are residential and were not included in the sale

Location Description

  • Canary Wharf is a major business district located in Tower Hamlets, London.
  • It is one of London's two main financial centres – along with the traditional City of London – and contains many of the UK's tallest buildings.
  • Canary Wharf contains around 14,000,000 square feet (1,300,000 m2) of office and retail space.
  • Around 105,000 people work in Canary Wharf and it is home to the world or European headquarters of numerous major banks, professional services firms and media organisations.
  • The subject property is located in Poplar which is part of Canary Wharf.

Additional Notes

  • Let to Tesco Stores Ltd on a 20 FR&I year lease from 30/04/14 (with a tenant’s option to break after 10 years) for £75,000 pa, with 5 yearly rent reviews linked to RPI with caps and collars of 0%-4% per annum.
  • The property is held on a 999 year lease at a peppercorn rent

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