Specification

Building size: Building size 15,186 sqft
Property type: Property type Leisure & Hotel Investments · Retail Investments
Tenure: Tenure For sale

Description

A unique and rare opportunity to acquire an exciting investment portfolio of three convenience stores and one coffee drive-thru unit, let to the undoubted covenants of Tesco, Co-op and Starbucks.

Available as a portfolio or individually.

Located in East London and Essex (Upminster, Romford, Chelmsford).

3 modern convenience stores and one prime drive-thru unit.

Total current income of £348,987.

Portfolio WAULT of 11.10 years (9.92 years to break), including c.20 years to Starbucks.

Low-risk investment with long, secure income.

Exceptionally well-located in high footfall and vehicular traffic areas.

Undoubted covenants: Tesco, Co-op, Starbucks.

Reversionary potential.

Seeking offers for the whole portfolio in the region of £5,300,000 subject to contract.

Location

Located in East London and Essex (Upminster, Romford, Chelmsford).

Executive Summary

Property 1: Starbucks Unit 1, Springfield Services, Chelmsford, CM2 5PG

* Modern Feehold drive-thru unit extending to 2,060 sq ft

* 25 year FRI lease expiring in April 2045 (19.49 years unexpired.)

* Current Rent £119,435 per annum

* Very prominent roadside location

* 21 car parking spaces.

Property 2: Co-operative Group, 166 Upminster Road, Upminster, RM14 2RB

* Modern long leasehold convenience store extending to 3,945 sq ft

* 15 year FRI lease expiring in October 2032 (6.56 years unexpired)

* Current Rent £65,000 per annum

* Prominent, high density residential location, with nearby underground station

* 9 car parking spaces.

Property 3: Co-operative Group, 378-392 Brentwood Road, Romford, RM2 5TD

* Modern freehold convenience store extending to 4,073 sq ft

* 15 year FRI lease expiring in May 2034 (8.10 years unexpired / 3.10 years to break)

* Current Rent £82,400 per annum

* 10 car parking spaces.

Property 4: Tesco, 395-405 Brentwood Road, Romford, RM2 5TH

* Modern long leasehold convenience store extending to 5,108 sq ft

* 18 year FRI lease expiring in October 2031 (5.50 years unexpired)

* Current Rent £82,152.04 per annum

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