Sainsburys, 207 Shirland Road, London, W9 2EX

Description
The property comprises of a three storey corner building of traditional brick construction, with flat roof situated on a circa 0.078 acres (0.032 hectares) site. The building has been sensitively converted to provide a convenience store over basement and ground floor levels and then hotel accommodation (not included in the sale) arranged over first, second and third floor levels.

Location
The property is prominently located on Shirland Road in Maida Vale, London, within a well-established residential area approximately 2 miles north of Paddington and 4 miles west of Central London. Shirland Road forms part of the A4207, providing convenient access to the A40 and wider London road network.

The surrounding area is predominantly high-density residential, characterised by attractive Victorian and Edwardian terraced housing along with a range of local shops, cafés, and services. Maida Vale is a sought-after West London location, benefitting from strong demographics and excellent transport connections, including Maida Vale and Warwick Avenue Underground stations, both of which are within walking distance.

Accommodation
The property has an approximate Gross Internal Area of 3,554 sq ft (330 sq m).

Tenure
New 999 year lease (virtual freehold) at a peppercorn rent available

Tenancy
The property is let by way of a lease dated 21 November 2024 for a term of 15 years at a passing rent of £130,000 per annum, expiring 21 November 2039. The tenant is SAINSBURY'S SUPERMARKETS LTD. The lease is subject to five yearly reviews on an upward only basis index linked to CPI with a cap and collar of 3 and 1%.

Covenant
Sainsbury’s Supermarkets Limited (Company Number 03261722) is the second largest supermarket chain. The company occupies 1,428 stores across the UK (820 convenience stores and 608 supermarkets). We set out the last three years’ accounts for Sainsbury’s Supermarket Limited as follows:

EPC
The unit has been awarded a C60 EPC Rating. A copy of all EPC is available upon request.

VAT
The investment will be sold as a TOGC and will therefore be exempt from paying VAT.

Price
Unconditional offers are invited in region of £2,600,000 subject to contract and exclusive of VAT. This reflects a Net Initial Yield of 4.70% after allowing for the usual purchaser’s costs.

Viewings
For a formal viewing strictly by appointment with Savills.

Money Laundering
A successful purchaser will be required to provide the appropriate information to satisfy current AML regulations when Heads of Terms are agreed.