Tenure: Virtual Freehold
Gross Rent: £ 57,000
Gross Yield %: 5.7
Lease Term: 15 years from Dec '15
Years left on Lease: 10.1
VAT applicable: Yes
- £1m - £5m
- Attractive property
- Blue-chip tenant
- Finance available
- Good location
- Lease term: 10 - 15 years
- Lock Up investment
- Minimum Rental Uplifts
- New Development
- Virtual Freehold
* Virtual Freehold, blue-chip convenience store investment in London
* This recently constructed prominent property is arranged on ground floor only to provide a large convenience store extending to 314 sq m (3,380 sq ft).
* Wimbledon is a popular and prosperous area of south-west London.
* Durnsford Road forms part of the busy A218 trunk road which runs between Wandsworth and Colliers Wood.
* The property is situated in a predominately residential area on the east side of Durnsford Road (A218), between its junctions with Wier Road and Plough Lane.
* Wimbledon Park Underground Station is approximately 0.5 miles north of the property and Haydons Road Rail Station is 500m to the south.
* Occupiers close by include Homebase, Ford, Pets at Home, Vauxhall, Topps Tiles and Jewsons amongst others.
* The property is at present let to CO-OPERATIVE GROUP FOOD LIMITED for a term of 15 years from 18th December 2015 at a current rent of £57,000 per annum.
* The lease provides for rent reviews linked to CPI (subject to a minimum 1% and a maximum 3%) every fifth year of the term.
* There is a tenant option to determine in December 2025.
* Co-op Food has 2,800 branches nationwide, and for the year ended 4th January 2014, Co-operative Group Food Limited reported a turnover of £10.534bn and a net worth of £756m.
* The property itself is held for a term of 999 years (less 3 days) from 28th December 2006 at £250 per annum, subject to RPI review on 28th December 2026 and every 20th year thereafter.