Lidl, 55-73 London Road, Portsmouth, PO2 0BH
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REF NUMBER: AI234365
Lidl, 55-73 London Road, Portsmouth, PO2 0BH
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Agent's Details
Scott Mitchell
T: 07967552995
Lewis Sinclair
T: 07908 227 966
Rian Dunne
T: 07780 209737
24,650 SqFt
(2,290 SqM)
For Sale £ 4700000
- 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 - Liritain 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.
The property comprises a 24,650 sq. ft (2,290 sq m) foodstore. The unit is fitted out in Lidl’s modern corporate design and includes their comprehensive food offer, including a bakery provision. The property is situated on the midpoint of the London Road (A2047). There is a customer car park to the rear which comprises approximately 113 spaces providing a ratio of 1:204. This is accessed via Derby Road on the northern side and Heathfield Road to the south. The car park is camera controlled, It is free for 15 minutes or 90 minutes for Lidl customers.
Lidl, 55-73 London Road, Portsmouth, PO2 0BH
Share to Social
Agent's Details
Scott Mitchell
T: 07967552995
Lewis Sinclair
T: 07908 227 966
Rian Dunne
T: 07780 209737
Location
Portsmouth is a dynamic coastal city located on the south coast of England, approximately 70 miles southwest of London and 19 miles southeast of Southampton. Renowned for its rich maritime history, Portsmouth is home to a population exceeding 215,000, making it one of the largest cities in Hampshire. Portsmouth’s economy is diverse; with strengths in maritime, defence, and advanced manufacturing sectors, bolstered by the presence of the University of Portsmouth, which attracts students and professionals from around the world. The city is undergoing significant regeneration, with several key developments aimed at enhancing its retail, leisure, and residential offerings.