Chancerygate Asset Management has let 25 London Road in Twyford, Berkshire, to Tesco for the retailer’s Express format.
The 2,600 sq ft former restaurant has been let on a 20-year lease at an initial rent of £50,000 pa with five-yearly index-linked rent uplifts. Tesco has been granted an 11-month rent-free period and there is a tenant-only break clause after the 10th year of the lease.
Eddie Cook, managing director of Chancerygate Asset Management, said: “This letting enables Tesco to establish its presence in the centre of Twyford and provides an alternative food retail offer which will benefit the local residents.”
Carter Baynes acted for Tesco; Redstorm RE acted for Chancerygate.
annabel.dixon@estatesgazette.com
