On behalf of private clients, Cooper Rose Real Estate has acquired a Tesco food store in Rotherham, South Yorkshire.
The property comprises a modern, purpose built 110,172 sq ft food store with a six pump petrol filling station. The property also benefits from 540 car parking spaces.
It is secured to Tesco Stores Limited on a 30 year lease from 29 September 2014, expiring on 28 September 2044 without break. The current rent is £2,039,550 per annum and is subject to 5 yearly upward only reviews, to the annual compounded increase in RPI, collared and capped at 1% and 4%.
The property is held on a long leasehold basis for 250 years from 28 February 2013 at a peppercorn rent from Rotherham Borough Council.
The acquisition price is confidential.
