Larne’s Tesco building for sale at £600,000

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The building which currently houses Larne’s Tesco Express is on the market for offers around £600,000.

The Main Street property, which has a total floor space of 4531 square feet, is being advertised with commercial property consultants Osborne King.

Osborne King describe the building as being in a “principle retail location”

“The property is let in its entirety to Tesco Stores Limited for a term of 20 years from February 7 2013 with a current passing rent of £40,000 per annum exclusive,” states Osborne King’s web page.

“The subject is arranged over ground and first floor levels to provide a convenience store with ancillary storage and staff accommodation at first floor level.

“The mid-terrace unit has been fully fitted by the tenant to their corporate specification and benefits from a large enclosed yard to the rear.

“The lease is subject to five yearly upward only rent reviews linked to RPI collared at one per cent and capped at four per cent.

“The lease contains a tenant’s option to determine at the expiry of the 10th year of the term.”

The current Tesco Express store opened in July 2013.

The site was formerly occupied by Dorothy Perkins, which ceased trading in April 2012.