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Tesco, Broad Street, Chesham HP5

For sale
  • Prime Investment Opportunity in an affluent location with secure Income from Tesco (15 years) & further development potential.
  • Highly prominent position in the centre of Chesham on a busy arterial road.
  • Freehold.
  • Total current passing rent of £104,300 pa with 86% secured to the undoubted covenant of Tesco Stores Limited.
  • Bespoke triple fronted ground floor convenience store totalling 4,256 sq ft.
  • Let for 15 years (10 years term certain) from June 2021.
  • Commencing rent of £90,000 pa reflecting a low rent of £21.15 per sq ft.
  • Three residential flats providing short term leasehold extension opportunities.
  • The property benefits from a large service yard to the rear providing immediate development / value add potential, subject to planning.
  • We are instructed to seek offers in excess of £2,000,000 (Two Million Pounds), subject to contract and exclusive of VAT.
  • A purchase at the asking price would reflect a Net Initial Yield of 4.90%, assuming purchasers’ costs of 6.27%, plus the value-add opportunities arising from the residential leasehold extension opportunities and the development potential.
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