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Tesco Express, Fletcher Way, Hemel Hempstead, HP2 5SE

For sale: POA|3,750 Sq Ft|Residential, Retail

Property details

FOR SALEPOA
SIZE3,750 Sq Ft
ADDRESSFletcher Way, Hemel Hempstead HP2 5SE
TYPEResidential, Retail
TENUREFor Sale Freehold
POSTED ON10th January 2021

Description

Property Description
Freehold Blue-Chip Supermarket Investment.
The property comprises a former public house, which was built in the early 1960’s, which was recently in early 2017 refurbishment and fitting-out to complete the opening of the Tesco Express store.
The unit measures approximately 3,750 sq ft (G.I.A), with associated vehicle, cycle parking, access, delivery, bin storage and landscaping.
The car park has been landscaped to provide approximately 26 designated parking spaces for the convenience store.
Location Description
Located in a prominent position in the suburb of Highfield in Hemel Hempstead.
The Tesco Express is situated in a prominent position on the junction of Fletcher Way and Cattsdell.
The area is mixed with residential housing and large apartment blocks surrounding the property. There is also small retail parade adjacent with a number of A1 and A5 operators occupying the ground floor and residential flats above. A bathroom retail showroom with cafe is located to the east of the site.
Whilst the property is situated in a densely populated residential suburb, access to the area is very good with links to the M1 motorway network within 2km (1.25m) from the subject property.
Additional Notes
The whole building is let to Tesco Stores Ltd from 5 November 2014 on a new full repairing and insuring 15 year lease.
Tenant break at year 10 (November 2024), at a commencing rent of £65,000 per annum.
The lease is subject to 5 yearly rent reviews in line with RPI with a collar of 1% and cap of 4%.

Location

marker
Location: Fletcher Way, Hemel Hempstead HP2 5SE

Watford (7.7 miles)

Chesham (7.7 miles)

Chalfont & Latimer (8.0 miles)

Hemel Hempstead (2.0 miles)

Apsley (2.2 miles)

Kings Langley (4.1 miles)

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