Retail

Tesco Supermarket Investment Opportunity – Immingham

Kennedy Way Immingham, Lincolnshire United Kingdom DN40 2AB
Asking Price
Area Size
NOI Net Operating Income
Cap Rate

Documents

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I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property Reference Number 11058892
Building Area Gross

Property description

The property is situated on Kennedy Way, which is the main retail location for the town of Immingham. The subject property is the largest occupier on the scheme.


The subject property is located in an easily accessible location between Pelham Road and Washdyke Lane. Pelham Road forms the main through road through Immingham. Kennedy Way is pedestrianised with access to the supermarket car park off Washdyke Lane to the south-east. The car park is the main parking provision for the town centre which extends to the south.


Other significant occupiers represented on the development include Home Bargains, B&M and Poundstretcher. 

Investment highlights

  • Located in Immingham a historic shipping town, approximately 8 miles north west of Grimsby and 28 miles south of Hull
  • A modern supermarket of 47,495 sq ft, purpose built in 2014 for Tesco
  • Let to Tesco Stores Limited on a 25-year lease until 2039. The unit has been subdivided to provide two units, occupied by Tesco’s value brand Jack’s and Home Bargains.
  • Unexpired term of 17.9 years to expiry and 7.9 years to lease break
  • 4.06 acre site (low site coverage of 27%) with 308 parking spaces (1:154 sq ft)
  • The lease is subject to 5 yearly rent reviews, reviewed to RPI with a 1% collar and 4% cap
  • Total passing rent of £771,007 per annum, rising at RPI review in 2024.
  • Prominently situated on Kennedy Way, the main retail location for Immingham. The property has Open A1 retail planning consent.
  • Held part freehold and part long leasehold (999 years at peppercorn rent from 30th November 1995).
Last Updated Date: 10 Jan 2022

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Last Updated Date: 10 Jan 2022

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