The property comprises a ground floor retail unit within Block J, New Capital Quay, extending to approximately 375 sq m (4,036 sq ft). It has two entrances, an open display and sales area, customer WCs and ancillary storage. The mezzanine level above is excluded from the demise, offering a purchaser potential asset management interest.
The unit is let to Chuanglee Minic Greenwich Limited, trading as a supermarket, for retail and café use within Class E. The tenant must keep the unit open and trading, and its obligations are guaranteed by Chuanglee Limited.
The lease is for 20 years from 17 January 2025, expiring 16 January 2045. The rent is £79,236.50 per annum, rising to £105,648.66 per annum from 17 January 2027. Rent reviews are upward-only to open market rent on 17 January 2030, 2035 and 2040. There is a mutual break option on 16 January 2030, on not less than six months' notice. The lease is contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954. The tenant is responsible for repairs and reimburses insurance, service charge and rates.
Riverside retail investment.
New Capital Quay is a riverside residential scheme completed in 2013, fronting the River Thames on three sides on the western edge of Greenwich town centre. The development comprises gated, concierge-serviced apartment buildings, including Jubilee Court, Beacon Point, Empire Reach and Admiral Tower, providing a built-in residential catchment on the doorstep of the unit. The property sits on Victoria Parade within the scheme's ground floor commercial offer, alongside an on-site Waitrose, creating a convenience-led retail destination for residents and the wider Greenwich community.
Cutty Sark for Maritime Greenwich DLR station and Greenwich National Rail station are close by, giving direct links to Canary Wharf and London Bridge, and Thames Clipper riverboat services provide an alternative route into central London. The UNESCO World Heritage Site of Maritime Greenwich, including the Cutty Sark, the Old Royal Naval College, Greenwich Market and Greenwich Park, is a short walk away and draws visitors throughout the year.
