Summary - TESCO EXPRESS, 12-20, WOOD STREET E17 3HT
1 bed 1 bath Retail Property (high street)
Secure national tenant income in a busy Walthamstow high street location.
Let to Tesco Express producing £59,547 pa
Prominent Wood Street frontage with strong footfall
Very large retail area — 4,167 sq ft
Gross initial yield 6.27% at £950,000
Upward-only RPI rent reviews; next due July 2028
Lease to Tesco expires Sept 2033 — ~8 years remaining
Short unexpired term likely to deter mortgage lenders
Area has above-average crime and higher deprivation
A rare high-street investment in the heart of Walthamstow, let to Tesco Express producing a secure passing rent of £59,547 per annum. The unit benefits from a prominent frontage on Wood Street, excellent pedestrian footfall and direct access to Wood Street Overground, supporting strong trading visibility and long-term area regeneration potential. The lease includes upward-only RPI-linked rent reviews, last reviewed July 2023 with the next due July 2028.
Offered at £950,000, the sale reflects a gross initial yield of 6.27% (net 5.75% after typical purchaser costs) and covers a very large retail footprint of 4,167 sq ft. The building is mixed-use with residential accommodation above, constructed in mid-20th-century brick; the location is well served by local amenities and fast broadband and mobile signals.
Important buyer risks are stated clearly: the Tesco lease expires in September 2033, leaving approximately eight years unexpired. This short lease term makes mortgage finance unlikely for many lenders and will significantly restrict the pool of buyers. The property is leasehold, in a more deprived area with above-average crime statistics — both factors to consider for long-term capital growth assumptions.
This is a pragmatic purchase for a cash buyer or institutional investor comfortable with short unexpired lease terms who values immediate covenant-backed income and strong high-street positioning. Buyers seeking long lease security or bank finance should note the refinancing and covenant expiry timing and plan accordingly.
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