LANCASTER
BOWERHAM ROAD, LA1 4DT
Project Overview
Development of a new-build Tesco Express, customer parking, Zest EV charging, and InPost parcel lockers. Practical completion January 2026.
Investment Highlights
Brand new convenience store extending to 4370 sq. ft together with 19 car parking spaces.
Let to the unrivalled covenant of Tesco Stores Ltd, the largest supermarket chain (by market share), Zest Eco Limited, and InPost (lockers).
New FRI leases on unbroken terms of 5 to 25 years.
Excellent income profile with rents linked to CPI (Tesco income profile collared and capped at 1% and 4%).
Initial combined rental of £121,600 per annum.
Tesco Stores Ltd - £110,000
Zest Eco Ltd - £10,000
InPost UK Ltd - £1,600
Start on Site July 2025
Anticipated Completion Date January 2026
Price £2,285,000
Yield 5.0% (after 6.41% costs)