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The property comprises a unique, long income, investment opportunity let to the undoubted covenant of Farmfoods.
Arranged across ground and first floors, the property is fully let to two tenants.
The Majority of the income is produced by Farmfoods Limited, who occupy the ground and part first floors on a new 15 year lease paying £100,000 per annum.
The remainder of the first floor is used as offices and is let to Tillison Consulting Limited on a seven year lease expiring 01/07/2027 and paying a rent of £12,800 per annum with fixed annual uplifts.
The property benefits from a prominent frontage to London Road, a principal arterial route within an established residential area of Waterlooville. The property comprises the sole major supermarket amenity for the area, with the nearest major supermarket being 0.7 miles to the south.
Tenure
Freehold
Tenancy
The ground floor and part of the first floor are let to Farmfoods Limited on a 15 year lease expiring 23/10/2038 and paying a rent of £100,000 per annum.
The lease includes 5 yearly, upward only, open market rent reviews.
The remainder of the first floor is let to Tillison Consulting Limited on a seven year lease expiring 01/07/2027 and paying a rent of £12,800.
The lease includes fixed annual increases.
Farmfoods Limited
Farmfoods is one of the UKs largest supermarket chains with 342 stores nationwide.
Rent