Tesco Express, Wood Street, Middleton, Manchester M24 5RA

Manchester, M24 5RA

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Tesco Express, Wood Street, Middleton, Manchester M24 5RA
Price £1,130,000
Rent (pa) £59,832
Yield 5%

Investment Summary

  • Prominent convenience store investment in busy Manchester suburb of Middleton
  • Located in a bustling commuter suburb, with a short journey to Moston Rail Station
  • Well configured convenience store providing 5,391 sq ft over ground and first floor
  • Includes substantial car park providing spaces for 23 vehicles
  • EPC rating of B43 (March 2030 expiry)
  • Let entirely to the undoubted covenant of Tesco Stores Limited (Net Worth £4.9bn)
  • FRI lease for a term of 25 years, commencing 3rd December 2010, expiring 2nd December 2035 (c. 13.6 years unexpired)
  • The current rent of £59,832 per annum (£11.10 psf) is reviewed 5 yearly in line with RPI (collared and capped at 0%-4%)
  • Next rent review 3rd December 2025
  • Lease recently re-geared and extended with Tesco, highlighting exceptional trading performance
  • Offers in excess of £1,130,000 (STC)
  • 5.00% Net Initial Yield
  • 6.14% Reversionary Yield (2025)
  • 7.46% Reversionary Yield (2030)
  • Low capital value of just £210 psf
Town Manchester
Postcode M24 5RA
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