Tesco/Heron Foods, 457-459 Saffron Lane, Leicester LE2 6UG

Leicester, LE2 6UG

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Tesco/Heron Foods, 457-459 Saffron Lane, Leicester LE2 6UG
Price £1,225,000
Rent (pa) £103,390
Yield 8%

Investment Summary

  • Secure supermarket investment opportunity
  • Well-presented property comprises two large open plan supermarket units
  • Located in a thriving local community to the south of Leicester city centre
  • Freehold
  • Unit 1 – Let to Tesco Stores Limited (D&B 5A1)
  • 15 years wef 25 December 2008, expiring 24 December 2023
  • Current rent of £65,890 per annum (£11.48 psf)
  • Unit 2 – Let to Heron Foods Limited (D&B 5A1)
  • 15 years wef 15 February 2010, expiring 14 February 2025
  • Current rent of £37,500 per annum (£8.23 psf)
  • Total income of £103,390 per annum
  • Average weighted unexpired term of 3.8 years
  • Pandemic resistant income March and June quarter paid
  • Offers in excess of £1,225,000 (STC)
  • Representing a Net Initial Yield of 8.00%
  • Low capital value of just £119 psf
Town Leicester
Postcode LE2 6UG
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