Lidl - 55-73 London Road 55-73 London Road, Portsmouth, PO2 0BH

Key Features

• Portsmouth is a coastal city located southwest Hampshire, 19 miles southeast of Southampton and 70 miles southwest of London.

• Highly visible unit located along a major arterial route that runs north-south through Portsmouth in Portsmouth.

• Let to one of Europe’s leading discount supermarket operators, Lidl Great Britain Limited, on a 25-year lease, expiring 10th July 2042, with approximately 18 years unexpired, 13 years to break.

• Large captive catchment, with 340,840 people (146,148 households) within a 15-minute drive of the property.

• The property comprises 24,650 sq ft GIA (2,290 sq m) with a 113-space surface car park, providing a convenient parking ratio of 1:204.

• The lease benefits from fixed rental increase at 2% per annum compounded, offering an attractive and stable income growth profile for investors.

• Dominant foodstore with minimal superstore competition within the highly residential area.

• The unit currently has a passing rent of £320,183, reflecting a rate of £12.98 psf, with a NOI of £286,734 after deduction of the car park outgoings.

• Secure covenant - Lidl Great Britain Limited has a D&B Rating of 5A2 reflecting a ‘lower than average risk’.

• The property is held freehold with carparking to the rear held by way of a long leasehold title.