Convenience Store for sale

Whitehill Road, Gravesend, Kent, DA12

Under Offer 3,908 sq. ft. | £765,000

Property Description

Commercial information

  • 3,908 sq ft (363 sq m)
  • Use class orders: A1 Shops

Key features

  • Convenience Store Investment
  • Allocated parking for 6 cars
  • Let to Tesco Stores Ltd for a term of 20 years from July 2010
  • EPC Rating: 'F'
  • REDUCED PRICE

Full description

A converted former public house with on-site customer car parking with an imposing frontage providing ideal accommodation for convenience store use.

The upper floors which are included within the area demised to Tesco could provide residential accommodation, however, are currently inaccessible.

The property is located in a high density housing estate to the south of Gravesend town centre, adjacent to a neighbourhood parade of shops.

Gravesend is a large Thames Estuary town with a population of 66,000 located 20 miles east of Charing Cross. The town benefits from a high speed train service into the Capital and is well connected to the M25 via the A2.

TENANCY
The property is let to Tesco Stores Ltd for a term of 20 years from 13th July 2010 at a current rent of 51,565 per annum on full repairing and insuring terms with 5 yearly upward only rent reviews linked to RPI annually compounded increases with a 1% to 4% cap and collar.

The lease provides for a tenant only break option upon the 10th anniversary - 1st July 2020.

PROPOSAL
Offers in Excess of 765,000 are invited. A purchase at this level would show a net initial yield of 6.39% after deducting purchaser's standard acquisition costs.

COVENANT
Tesco Stores Ltd is one of the largest supermarket chains in the UK, with over 3,500 stores and over 310,000 employees.

Company No. 519500.

A Credit Report is available upon request.

VAT
The sale will be treated as a TOGC. VAT will not therefore be charged on the purchase price.

VIEWING
To view the premises and for any additional information please contact the sole agents.

More information from this agent

Nearest stations

  • Gravesend (1.3 mi)
  • Sole Street (2.8 mi)
  • Meopham (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Banks Long & Co Ltd, Lincoln

26 Westgate Lincoln LN1 3BD

01522 418032 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Gravesend (1.3 mi)
  • Sole Street (2.8 mi)
  • Meopham (2.8 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Banks Long & Co Ltd, Lincoln

26 Westgate Lincoln LN1 3BD

01522 418032 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference TJB8632. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Banks Long & Co Ltd, Lincoln. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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