Property overview

Tesco Express, 20/30 Caerleon Road, Newport, NP19 7BX

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May 2012

Franck-Steier Price Ltd (FSP) has recently completed the purchase of a Tesco Express unit in Newport on behalf of a private investor.

The property is located on Caerleon Road, Newport and comprises a ground floor convenience store with first floor storage.

The property is let to Tesco Stores Ltd for a term of 15 years from 31 March 2011.  The lease is held on full repairing and insuring terms with 5 yearly upward only rent reviews to compounded RPI collared and capped at 1% and 4% per annum.  The current rent is £39,200 per annum.

The investment was sold for £640,000 which reflected a net initial yield of 5.79%. The property was sold by a private investor represented by BCM.