Tesco Express, Subway & Papa John’s, Ipswich


283 Duke St, Ipswich, Suffolk, IP3 0BF

Offers in excess of
Type - Commercial
Tenant type - Various
  • Tenure: Virtual Freehold
  • Gross Rent: £90,000
  • Lease Term: 15 years from Dec '17
  • VAT applicable?: Y

Property Description

  • Virtual Freehold Blue-Chip, Supermarket & Restaurant Investment.
  • Comprising 3 ground floor retail units, configured as: Tesco – 4,249 sqft, Papa Johns 1,075 sqft and Subway 571 sqft

Location Description

  • Ipswich, the county town of Suffolk, is situated some 75 miles north-east of London at the junction of the A12 and A14 trunk roads and serves a population of some 133,000.
  • Ipswich has undergone extensive rebuilding, principally around the waterfront, which has turned a former industrial dock area into an emerging residential and commercial centre.
  • The immediate location comprises new build residential blocks with commercial on the ground floors, and is a few minutes walk from the University of Suffolk

Additional Notes

  • The property is held on 999 year lease at peppercorn
  • The ground floor is let to Tesco for £90,000 p.a. FR&I for 15 years (no breaks) from December '17
  • Rent reviews are 5 yearly and subject to open market rents, capped at 12.5%
  • Tesco have sublet part to Papa Johns and Subway

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