Tesco Stores Limited, Silk Street, Rochdale OL11 3ER

Tesco Stores Limited, Silk Street, Rochdale OL11 3ER

  • Rare opportunity to purchase secure, long income supermarket investment to an undoubted covenant

  • Located adjacent to busy interchange in edge of town location - Greater Manchester

  • 69,100 sq ft (GIA) supermarket on a site of 4.75 acres

  • Comprises a Tesco Superstore with generous parking and a Tesco branded Petrol Filling Station

  • Let to the undoubted covenant of Tesco Stores Limited (Privity Lease)

  • Turnover in excess of £40,000,000,000 and a Creditsafe rating of 'Very Low Risk'

  • FRI lease for a term of 125 years wef 1st March 1973, expiring 28th February 2098 (c. 80 years unexpired)

  • Current ground rent of £382,000 per annum

  • Rent is subject to 14 yearly reviews with the next review schedule for 1st March 2029

  • Freehold

  • Offers in excess of £12,000,000 (Subject to Contract)

  • Net Initial Yield of 3.00%, Reversionary Yield of 3.92%

  • 33 Years Purchase - Cover ratio of 42% (applying £18 psf and 4.5% NIY)

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