Tesco Metro, 119-125 London Road North Lowestoft Suffolk NR32 1LZ

Tesco Metro, 119-125 London Road North
Lowestoft
Suffolk
NR32 1LZ

Major Freehold Supermarket Investment

  • Let to Tesco Stores Limited on lease extended from original term
  • Prominently situated on main shopping town centre thoroughfare
  • Currently let at £5.75 per sq ft with next review in September 2015
  • Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes
  • Lot
    31
  • Auction
    23rd October 2014
  • Rent
    £220,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,750,000
  • Sector
    Supermarket
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Major Freehold Supermarket Investment

  • Let to Tesco Stores Limited on lease extended from original term
  • Prominently situated on main shopping town centre thoroughfare
  • Currently let at £5.75 per sq ft with next review in September 2015
  • Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes
  • Lot 31
  • Auction 23rd October 2014
  • Rent
  • Status Sold
  • Price £1,750,000
  • Sector
    Supermarket
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
25 miles south-east of Norwich
10 miles south of Great Yarmouth
Roads
A12, A47, A11, M11
Rail
Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air
Norwich International Airport
Situation

The property is situated on the main retail thoroughfare in the town centre close to the junction with Gordon Road and its two NCP car parks. Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes. To the front of the property there are two bus stops and partial pedestrianisation of the street.

Tenure

Freehold.

Location
Miles
25 miles south-east of Norwich
10 miles south of Great Yarmouth
Roads
A12, A47, A11, M11
Rail
Lowestoft Railway Station (approx.2 hrs 45 mins to London Liverpool Street)
Air
Norwich International Airport
Situation

The property is situated on the main retail thoroughfare in the town centre close to the junction with Gordon Road and its two NCP car parks. Nearby occupiers include BHS, Sports Direct, Bonmarché and Clarks Shoes. To the front of the property there are two bus stops and partial pedestrianisation of the street.

Tenure

Freehold.

Description

The property comprises a ground floor supermarket with first floor storage and
ancillary accommodation. A small mezzanine floor comprises office and storage accommodation while the second floor provides offices and plant rooms. The property benefits from rear loading and servicing with access off Regent Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor supermarket with first floor storage and
ancillary accommodation. A small mezzanine floor comprises office and storage accommodation while the second floor provides offices and plant rooms. The property benefits from rear loading and servicing with access off Regent Road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/(Reversion)
Ground
Mezzanine
First
Second
Sales/Storage
Offices/Storage
Offices/Staff/Storage
Offices
Plant
1,918 sq m
108.9 sq m
1,269.8 sq m
77.7 sq m
177.2 sq m
(20,656 sq ft)
(1,172 sq ft)
(13,669 sq ft)
(836 sq ft)
(1,907 sq ft)
TESCO STORES
LIMITED (1)
35 years from 29/09/1980 extended
until 28/09/2019 on a full repairing and
insuring lease
£220,000 29/09/2015 (29/09/2019)
Totals  
3,551.6 sq m
(38,240 sq ft)
    £220,000  

(1) For the year ending 23rd February 2013, Tesco Stores Limited reported a turnover of £42,662,000,000, pre-tax profits of £921,000,000 and a total net worth of £3,113,000,000. (Source: www.riskdisk.com 26th September 2014)

Property Documents

  • Catalogue Page
    Updated Date
    30.09.14
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    30.09.14
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Brook Street Des Roches LLP 25A Western Avenue, Milton Park
Abingdon
Oxfordshire
OX14 4SH
Alexandra Marsh 01235 836 636alexandra.marsh@bsdr.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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