Tesco, Acres Way, Thorpe Marriott, Norwich, Norfolk NR8 6UT

Norwich, NR8 6UT

Sold

Price £775,000

Rent (pa) £49,000

Yield 6%

Investment Summary

Secure supermarket investment opportunity
Well-presented property comprising large open plan supermarket unit
Located in The Square, a thriving local community parade
Situated on a large housing development in an affluent suburb of Norwich
Long leasehold – 125 years from 20 January 2003, expiring 19 January 2028 (108 years unexpired).
Let to Tesco Stores Limited (D&B 5A1)
15 years wef 6 July 2020, expiring 5 July 2035 (15 years unexpired)
Tenant option to determine 6 July 2030 (10 years unexpired)
Current rent of £49,000 per annum (£11.68 psf)
T&S Stores have been in occupation since 1994 (26 years) and recently re-geared within lockdown
Offers in excess of £775,000 (STC)
Representing a Net Initial Yield of 6%
Low capital value of just £147 psf