foodstore investment-01

Status: Sold

Terms: Freehold

Price: Confidential

Yield: 7.47%

Tesco, Victoria Street, Grimsby DN31 1QS

  • Grimsby is an important commercial and retailing centre in north east Lincolnshire
  • The subject property is prominently located on the A16, Victoria Street, the principal arterial road to Grimsby town centre from the A180
  • Situated within the main retail pitch in the town in close proximity to Victoria Retail Park, Alexandra Retail Park and High Point Retail Park
  • Modern development comprising a well configured foodstore and retail warehouse unit, together with significant dedicated surface car parking
  • The foodstore is let to Tesco Stores Limited via an assignment from Woolworths plc, expiring 6 June 2024, at a passing rent of £1,372,000 per annum (£14.60 per sq ft)
  • The retail warehouse unit is let to Dunelm (Soft Furnishings) Limited via assignment from DSG Retail Limited, for a term of 25 years from 31 March 2004, expiring 30 March 2029, at a passing rent of £189,514 per annum (£13.11 per sq ft). There is a tenant break option on 30 March 2019
  • The property produces a total income of £1,561,514 per annum
  • The property provides a WAULT of 8.3 years (7.1 years to break)
  • Both units benefit from an unrestricted Open A1 planning consent

Foodstore Investment - Victoria Street, Grimsby

Maltings Way, Grimsby DN31 1QS, UK
Download PDF

CONTACT: