Entirely let to Tesco Stores Limited on a 15 year lease until July 2024
Uncapped RPI linked review in July 2014 and 5 yearly
Town centre location
Nearby occupiers include Barclays Bank, Greggs, Wilkinson, William Hill and Costa Coffee
Lot 47
Auction 9th July 2014
Rent £60,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Supermarket
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
7 miles south-west of Cardiff, 54 miles west of Bristol
Roads
A48, M4
Rail
Barry Dock and Barry Railway Stations
Air
Cardiff Airport (3.5 miles)
Situation
Barry is a seaside resort situated on the northern coast of the Bristol Channel, less than 7 miles from Cardiff city. The property is situated within the town centre in a prominent corner position on the northern side of Holton Road, Barry’s main retailing thoroughfare, at its junction with Evans Street. Nearby occupiers include Barclays Bank, Greggs, Wilkinson and William Hill with 88-90 Holton Road recently let to Costa Coffee.
Tenure
Freehold.
Location
Miles
7 miles south-west of Cardiff, 54 miles west of Bristol
Roads
A48, M4
Rail
Barry Dock and Barry Railway Stations
Air
Cardiff Airport (3.5 miles)
Situation
Barry is a seaside resort situated on the northern coast of the Bristol Channel, less than 7 miles from Cardiff city. The property is situated within the town centre in a prominent corner position on the northern side of Holton Road, Barry’s main retailing thoroughfare, at its junction with Evans Street. Nearby occupiers include Barclays Bank, Greggs, Wilkinson and William Hill with 88-90 Holton Road recently let to Costa Coffee.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit benefitting from
loading to the rear via a roller shutter door.
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 retail unit benefitting from
loading to the rear via a roller shutter door.
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
Reversion
Ground
Retail
418.05 sq m
(4,500 sq ft)
TESCO STORES LIMITED (1)
15 years from 27/07/2009 until 26/07/2024 on a full repairing and insuring lease
£60,000
27/07/2014 and 27/07/2019 (2)
Totals
418.05 sq m
(4,500 sq ft)
£60,000 rising to approx. £71,893 p.a.x. in July 2014
(1) For the year ending 23rd February 2014, 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 03/06/2014) (2)The rent review is RPI linked. RPI rose from 213.4 in July 2009 to 255.7 in April 2014 equating to a 19.4% increase. An equivalent increase in the current rent would therefore equate to £71,893 p.a.x. although the exact outcome of which will not be known until the rent review date.
