Rare opportunity to purchase secure, long income supermarket investment to an undoubted covenant
Located adjacent to busy interchange in edge of town location - Greater Manchester
69,100 sq ft (GIA) supermarket on a site of 4.75 acres
Comprises a Tesco Superstore with generous parking and a Tesco branded Petrol Filling Station
Let to the undoubted covenant of Tesco Stores Limited (Privity Lease)
Turnover in excess of £40,000,000,000 and a Creditsafe rating of 'Very Low Risk'
FRI lease for a term of 125 years wef 1st March 1973, expiring 28th February 2098 (c. 80 years unexpired)
Current ground rent of £382,000 per annum
Rent is subject to 14 yearly reviews with the next review schedule for 1st March 2029
Freehold
Offers in excess of £12,000,000 (Subject to Contract)
Net Initial Yield of 3.00%, Reversionary Yield of 3.92%
33 Years Purchase - Cover ratio of 42% (applying £18 psf and 4.5% NIY)
