Under Offer

Battersea Park- Long Let Virtual Freehold to Tesco

Prince Of Wales Drive, London SW11 4FA, UK

Offers in excess of £1,900,000

Property Type:
Commercial
Tenure:
Long Leasehold
Net Initial Yield:
4.46%
Site Area:
4,000 sq.ft

Income

£90,000 pa

Description

  • Battersea is a busy neighbourhood within the London Borough of Wandsworth, south of the River Thames best known for its iconic landmarks Battersea Power Station, Battersea Park and Battersea Bridge.
  • Situated on the eastern side of Prince of Wales Drive 400m from Battersea Power Station (Northern Line) which is a 4 minute’ walk
  • The immediate area consists of newly built residential apartments, a gym and a restaurant which is set to open next door.
  • Ground floor convenience store totalling 4,000 sq ft forming part of a recently completed residential development.
  • Let to the excellent covenant of Tesco Stores Limited on a 15 year lease with a tenant break in year 10.
  • Initial rent of £90,000 p.a (£22.50 psf) with 5 yearly CPI indexed reviews with a collar of 1% and a cap of 3% per annum.
  • Virtual freehold (999 year long leasehold at a peppercorn).

Subject to contract