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● Convenience store investment opportunity let to the undoubted covenant of Tesco Store Limited.
● The property is let to Tesco Stores Ltd for
a term of 15 years from 18 October 2006
expiring 18 October 2021.
● Virtual Freehold, 990 years remaining.
● Rent of £76,784 per annum exclusive,
subject to five yearly upwards only rent
reviews based on the retail price index and
compounded annually with a cap of 4%.
● Seeking offers in the region of
£1,300,000, subject to contract.
● A purchase at this level would reflect a Net initial Yield of 5.58% allowing for purchaser’s costs of 5.80%.
41 Millharbour is a substantial mixed use building situated on the Isle of Dogs, a short distance from South Quay DLR.
The immediate locality is mainly residential with a number of high rise apartment blocks.