Tesco Express, Southampton

 

Unit A, Mapmakers Mercator Close, Romsey Road, Southampton, SO16 4HW

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Supermarket
  • Tenure: Virtual Freehold (999 years)
  • Gross Rent: £70,000
  • Lease Term: 20 years from Spring '17
  • VAT applicable?: Y

Property Description

  • Virtual Freehold Blue-Chip Convenience Store Investment
  • Ground floor unit measuring 4,176 sq ft
  • 15 dedicated car parking spaces
  • New build Unit with extensive glass frontage and feature timber effect.

Location Description

  • Southampton is on the south coast of England and is the largest city in Hampshire.  It is 75 miles (121 km) south-west of London and 19 miles (31 km) north-west of Portsmouth.
  • Southampton is a major port and has an estimated population of 253,651
  • Romsey Road is a busy route connecting the north western suburbs and neighborhoods of Southampton to the City Centre.
  • The property is located in a residential suburb of Southampton close to University Hospital Southampton and Princess Anne Hospital.
  • The unit forms part of Mapmakers, a new residential development of 66 homes.  The area has undergone significant redevelopment with more than 400 residential units constructed.

Additional Notes

  • Let to Tesco from Spring '17 on a 20 year FR&I lease (break at 10th year) for £70,000 p.a.
  • 5 yearly RPI linked rental increases
  • There is a break at the 10th year

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