14 Halewood Way Rainham, RM13 8QZ

For Sale
14 Halewood Way, Rainham - Picture 2024-10-31-12-48-45

Agents

Green & Partners logo

Green & Partners

Alex Murray

Will Civil

Anita Briant

Ben Simpson

Use Class

Use Class

E(a)

Price

Price

£2,240,000

Key Features

  • Newly developed Greater London investment;

  • Beam Park is a joint venture mixed-use development between Countryside and L&Q which will deliver 3,900 homes upon completion;

  • Attractive new build unit arranged over ground floor and providing 4,509 sq ft (418.9 sq m) of accommodation;

  • 100% secured against undoubted Sainsbury’s Supermarkets Limited covenant;

  • New 15 year lease from July 2023 without break;

  • 100% CPI index linked income (collar & cap of 1-3%);

  • Total income of £155,000 per annum;

  • Virtual freehold interest for a term of 999 years at a peppercorn rent.

Description

Index linked sainsbury’s convenience store For sale - long leasehold (999 years)

The unit is prominently positioned on Halewood Way and benefits from an extensive corner frontage.

The properties forms part of the new Beam Park community, close to an array of other essential services and amenities that add to the neighbourhood feel, from the on-site medical centre and shops, to the nearby school (opening September 2025).

The property comprises a new build convenience store arranged over ground floor. The upper floors, which do not form part of the sale, contain contemporary apartments sold separately via private treaty.

Key Information

Further Infomation

Terms & Conditions

The successful purchaser will be required to fulfil anti-money laundering requirements in accordance with the Money Laundering Regulations.

Accommodation

The unit is arranged over ground floor and comprises 4,509 sq ft (418.9 sq m) of accommodation. The property is let to Sainsbury’s Supermarkets Limited for a term of 15 years from 28th July 2023 (expiring 27th July 2038) without break. The lease is subject to five yearly index linked uplifts geared to CPI, collared at 1% and capped at 3% The current rent is £155,000 per annum.

Areas
Sq.Ft
Sq.M
Ground floor
4,509
418.9

Financial

Lease Type

Existing Lease

Lease Term

The property is available by way of a virtual freehold interest for a term of 999 years at a peppercorn rent.

Rent

Subject to contract, rental offers are invited in the region of £155000 per annum exclusive of rates, service charge, VAT (if applicable) and all other outgoings.

Price

(Two Million Two Hundred and Forty Thousand Pounds), exclusive of VAT and subject to contract. A purchase at this level would reflect a net initial yield of 6.51% assuming graduated purchaser’s costs of 6.33%.

Tenure

Leasehold

Terms & Conditions

The successful purchaser will be required to fulfil anti-money laundering requirements in accordance with the Money Laundering Regulations.

Vat

The property has been elected for VAT and it is assumed the sale will be conducted via a Transfer of a Going Concern (TOGC).

Sustainability

An EPC is available upon request.

Misrepresentation Notice

All the above information and descriptions (whether in the text, plans or photographs) are given in good faith but should not be relied upon as being a statement of representation or fact. Any areas, measurements or distances referred to are approximate only.

All data ©2024 Completely Property Technology Limited

This was last updated on 15/11/2024