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Unterkunft
| Ground Floor Gross Internal Floor Area | 413.7 sq m | 4,453 sq ft |
The Agreement for Lease (see legal package) stipulates a minimum threshold for the Gross Internal Area of 4,263.60 square feet, providing that should the Gross Internal Area be equal or greater than 4,375.8 square feet, the initial rent shall be £140,000 per annum. It was subsequently confirmed between the developer and the tenant that the Gross Internal Area is 4,453 square feet (413.7 square metres).
Grundstück
A Phase I Assessment was carried out by Delta Simons in October 2019 which concluded that “the Site represented an overall investment opportunity with a Low risk” and “flood risk at the Site is considered to be Low”. A copy of this report is available to download for information purposes. Please also refer to the EnviroCommercial Report of May 2026.
Amtszeit
The interest being sold is in effect a freehold, plus a “virtual” freehold as explained below:
The entire building is held by the vendor on a freehold basis.
The entire building is let to “Paragon Asra Housing Limited”, a housing association, on a 125 year lease at £1 per annum. Paragon sub-let the residential accommodation (ten flats) as a housing association. “Paragon” sublet the commercial element back to the freeholder on a 125 year lease (less two days) at £1 per annum.
The long-leaseholder (which is also the freeholder), then let the commercial element to Co-Operative Group Food Limited.
The vendor also has the benefit of a 125 year lease from 8Th December 2016 at a peppercorn over the car park and road area to the front of the property. Both Paragon, as long leaseholder and Co-Op, as occupational tenant, have been granted appropriate rights over this area. A licence to assign will be organised post exchange of the sale contract from the freeholder of this area, Thames Water Utilities Limited.
The freehold and long leasehold of the commercial element (as well as the lease of the car park and road area), are being sold, thereby removing any management input for the freeholder, given Paragon (the long leaseholder) occupy under a full repairing and insuring obligation. At the end of the Paragon long lease, the entire accommodation reverts to the freeholder since residential property is excluded from statutory rights to renew, as with commercial leases
The net effect is a sale of the freehold of the property, the long leasehold of the car park area, and the long lease of the convenience store, with a purchaser deriving secure income from Co-Operative Group.
Mietverhältnis
The ground floor premises is let to Co-Operative Group Food Limited (No. 26715R) for a term of 15 years from 7th August 2019, expiring on 6th August 2034 (in excess of 8 years unexpired lease term) or 6 August 2049 (if the tenant option for a new lease on the same terms is exercised). The tenant is to keep the premises and the Car Park Area in good and substantial repair and condition.
Rent reviews increase the rent in line with changes to the Consumer Price Index (CPI) capped and collared between 1% and 3%.
The rent increased from £140,000 per annum to the current passing rent of £156,600 per annum at the August 2024 rent review, with the next review due August 2029.
Having regard to the CPI Index in August 2024 of 134.3, August 2025 of 139.3, and the most recent Index at March 2026 of 141.0, applying the annual increase calculation would result of a minimum of £163,266 per annum were a review to occur today.
The tenant has an option to renew the lease for a further 15 years from expiry of the current lease and has been granted within the protection of the security of tenure provisions of the 1954 Act.
Bund
The property is well secured to Co-Operative Group Food Limited (No. 26715R) which has reported the following figures;
| 4th January 2025 | 6th January 2024 | |
| Einnahmen | £8,534.1 million | £8,495.8 million |
| Gewinn vor Steuern | £257.4 million | £8.3 million |
| Nettovermögen | £1,583.9 million | £1,873.9 million |
The company is a wholly owned subsidiary of Co-operative Group Limited.
With origins tracing back to 1844 the Co-Operative Group has become one of the world’s largest consumer co-operatives and the largest mutual business in the United Kingdom, with interests across food, funerals, insurance, electrical and legal services. Co-operative Group is owned by over seven million active members across the UK, operating over 2,300 Co-op stores. .
Weitere Informationen finden Sie unter www.co-operative.coop.
According to the financial statement at 31st March 2025, Paragon produced a turnover of £224m with a surplus of £44m. Total assets were reported at £625m.
MwSt
Die Immobilie ist umsatzsteuerlich registriert. Es wird erwartet, dass der Verkauf als Transfer of a Going Concern (TOGC) behandelt wird.
Beweiserlaubnis
The current passing rent of £156,600 per annum equates to £377.08 per sq m / £35.03 per sq ft which is in line with other convenience store lettings within the London / Greater London area:
| Eigentum | Mieter | Größe | Date of Letting | Passing Rent PA | Rent Per Sq Ft |
| Shirland Road, Maida Vale, London | Sainsbury’s | 3,554 sq ft | Nov-24 | £130,000 | £36.58 |
| Regents Park Road, Finchley, London, N3 | Tesco’s | 3,772 sq ft | Jul-25 | £125,000 | £33.14 |
| Prospect House, Chipstead, Surrey | Tesco’s | 4,015 sq ft | 24. Dezember | £148,500 | £36.96 |
| Eastman Village, Harrow, London, HA1 | Sainsbury’s | 4,778 sq ft | Aug-25 | £150,000 | £31.39 |
| Askew Road, Shepherd’s Bush, London, W12 | Sainsbury’s | 4,043 sq ft | Aug-25 | £121,800 | £30.13 |
Investitionsnachweise
| Eigentum | Sale Date | Mieter | Term Certain | Sale Price | NIY |
| Coppice Road, Nottingham | Feb-26 | Central England Co-Operative | 14.75 years | £1,110,000 | 5.75% |
| Cowick Street, Exeter | Mar-26 | Tesco | 8.75 years | £1,130,000 | 4.79% |
| Clyde Road, Frampton Cotterell | Under Offer | Co-op | 15 years | £1,800,000 | 5.75% |
Vorschlag
Wir suchen Angebote in der Region £2,265,000 (Two Million, Two Hundred and Sixty-Five Thousand Pounds), subject to contract, reflecting a net initial yield of 6.5%, assuming standard purchaser’s costs of 6.34%.
Based on the most recently published CPI figure (March 2026), the yield will increase to at minimum 6.8% at the rent review in August 2029.
Please note that a purchaser will be re-charged the cost of the searches (£1,573.54) which are provided in the data room.
Bitte beachten Sie, dass dem Käufer eine Transaktionsgebühr von 1,01 TP3T des Kaufpreises zuzüglich Mehrwertsteuer berechnet wird.
Überlegungen zur Investition
An opportunity to acquire a modern supermarket investment within Greater London;
The investment provides highly secure income from the covenant of Co-Operative Group Food Limited;
New 15-year lease from 2019 with no break options (in excess of 8 years unexpired);
The occupational lease benefits from a CPI-linked rent reviews (capped and collared annually between 1% and 3%);
Situated within the affluent London borough of Kinston Upon Thames, with good communications to Central London and the M25 Motorway;
The passing rent is in line with recent lettings of convenience stores within Greater London, thereby offering good prospects for future growth.
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Datenraum
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