Greater London Foodstore investment.
- Beckenham is an attractive and affluent town located in the London Borough of Bromley, 9 miles south-east of Central London. The 10 minute drive time population is 103,868.
- The property occupies a 2 acre site positioned off the High Street in the heart of Beckenham town centre.
- Purpose built supermarket comprising 44,993 sq ft with 277 decked car spaces, providing a superb ratio of 1:162 sq ft.
- Part Freehold / Part Long Leasehold.
- Approximately 6.5 years unexpired to the 5A1 covenant of Sainsbury’s Supermarkets Ltd, with a surety from J Sainsbury Plc.
- Passing rent of £928,000 pa, reflecting a low rent of £18.75 per sq ft.
- Asset management and development potential.
- Offers are invited in excess of £13,910,000 (Thirteen Million, Nine Hundred and Ten Thousand Pounds), subject to contract and exclusive of VAT.
- A purchase at this level would reflect an attractive Net Initial Yield of 6.25%, having adopted 6.72% purchase costs.