Tesco Express- 161 Annesley Road, Hucknall, Nottingham, NG15 7DB
Secure convienience store investment opportunity in Nottingham with future development potential
Single storey commercial unit let to Tesco Stores Limited until June 2025
Total rental income currently £40,500 per annum (£11.25 per sq ft)
Lease extension agreed with Tesco Stores Limited for £44,800 per annum (£12.44 per sq ft) from July 2025 until ....July 2040
GIA- 334m2 / 3,600sqft
10 year break clause in June 2035 with 5 yearly rent reviews (RPI)
Hucknall Station is 0.9 miles away
Offers in excess of £850,000 for the freehold interest
A purchase at asking price would reflect 5.25% Net Initial Yield based on the agreed lease extension and a capital ...value of £236 per sq ft
The existing building is situated in Hucknall, Nottinghamshire and is currently a single-storey commercial unit that is currently let to Tesco Stores Limited. The current terms of the lease expire in June 2025 with the tenants paying £40,500 pa. A lease extension has been agreed for a new FRI 15- year lease paying £44,800 pa with a break option after 10 years and 5 yearly rent reviews linked to RPI.
The building will be sold with the whole car park. Please refer to the location plan to show which parking area belongs to Tesco. The other commercial freeholds will have rights to park over the rest.
The existing building forms part of a group of commercial units situated at a prominent position on Annesley Road. The immediate neighborhood comprises predominantly low-rise residential dwellings with local independent businesses and additional amenities including a bakery, hair salon and Hucknall National Primary School.
The nearest station is Hucknall Station and is situated 0.9 miles away (17-minute walk) providing direct access into Nottingham City Centre.
At Unit 2, 161-163 Annesley Road Tesco Stores Limited under a separate lease also utilises this space as storage and will not form part of this sale.
Available upon request.
The property is elected for VAT. We have been advised that the purchase will be treated as a Transfer of a Going Concern (TOGC).
Highfield are inviting offers in access of £850,000 for the freehold interest.
Please note the information provided by Highfield Investments London Limited, trading as Highfield Investments has been given in good faith, however all parties must undertake their own due diligence to satisfy themselves in regards to accuracy.