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Tesco Express, Folkestone



Basic Facts

Status: Available
Type: Supermarket
Tenure: Freehold
Gross Rent: £ 49,500
Gross Yield %: 6.6
Lease Term: 20 years from Apr '14


- £500k - £1m
- Asset management / development opportunity
- Blue-chip tenant
- Freehold
- Good location
- Lease term: 10 - 15 years
- New Development
- Whole Building

Property Description

* Freehold, blue-chip supermarket investment in the South East
* Brand new, purpose-built retail unit with ancillary accommodation on the first and second floor.
* The property is in shell condition and has not been fitted out or occupied by Tesco Express
* The adjacent ground floor retail unit let to Paddy Power, which forms part of this building, can also be acquired in the same transaction and details are here

Location Description

* The property is well-located on the busy Cheriton High Street adjacent to the Post Office, Paydens Chemist, Lloyds TSB Bank, and Coral bookmakers.
* Cheriton High Street is the main road which connects Jct 12 of the M20 Motorway to Folkestone town centre
* The area is predominantly a residential suburb, and benefits from its close proximity to Folkestone West railway station
* Cheriton is famous for being the location of the English side of the Channel Tunnel.and is also home to the major army barracks of Shorncliffe Camp

Additional Notes

* The tenant is currently not in occupation and is trying to sublet the property to a tenant of an equivalent covenant


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