Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/(Reversion) |
| 44 |
Ground
First |
Retail/Ancillary
Ancillary |
175.59 sq m
120.77 sq m |
(1,890 sq ft)
(1,300 sq ft) |
SUPERDRUG STORES
PLC (1) |
25 years from 26/02/1993 |
£40,000 |
(25/02/2018) |
| 46 |
Ground
First |
Retail/Ancillary
Ancillary |
75.90 sq m
50.35 sq m |
(817 sq ft)
(542 sq ft) |
BGBET LIMITED (2) |
10 years from 24/10/2014 (3) |
£16,000 (4) |
24/10/2019
(23/10/2024) |
| 48-50 |
Ground
First |
Retail/Ancillary
Ancillary |
100.33 sq m
100.33 sq m |
(1,080 sq ft)
(1,080 sq ft) |
CO-OPERATIVE GROUP
(CWS) LIMITED (5) (6) |
25 years from 25/12/1992 |
£23,300 |
(24/12/2017) |
| 48-50 |
Ground
First |
Retail/Ancillary
Ancillary |
212.75 sq m
109.69 sq m |
(2,290 sq ft)
(1,180 sq ft) |
CO-OPERATIVE GROUP
(CWS) LIMITED (5) (6) |
25 years from 25/12/1992 |
£22,700 |
(24/12/2017) |
| Totals |
945.71 sq m |
(10,179 sq ft) |
|
|
£102,000 |
1) For the year ending 31st December 2013, Superdrug Stores plc reported a turnover of £1,010,212,000, pre-tax profits of £28,982,000 and a total net worth of £122,235,000. (Source: www.riskdisk.com 10/11/2014)
(2) Founded in 1968, when known as Brian Goodyear Bookmakers, BGBet have over 35 years of experience offering betting services. Alongside their on-line presence BGBet operate 7 licensed betting offices in the UK (Source: www.bgbet.com). We understand the tenant is currently fitting out the unit.
(3) The lease provides for a tenant option to determine the lease on 24th October 2019.
(4) The current rent reserved under the terms of the lease is £8,000 p.a.x. The lease provides for fixed rental increases to £16,000 p.a.x in June 2015, £17,000 p.a.x in October 2015 and £18,000 p.a.x in October 2016 until October 2019, when the lease is subject to a rent review. The seller will pay the buyer the difference between the current rent reserved and £16,000 p.a.x on completion of the sale, such that the unit will effectively produce £16,000 p.a.x from completion of the sale until the fixed rental increase in June 2015. Please see special conditions of sale.
(5) The Co-operative Group is the UK’s largest mutual business, operating a total of 3,750 outlets, with more than 70,000 employees and an annual turnover of approximately £11 billion. (Source: www.co-operative.coop)
(6) The tenant has sublet the unit to a tenant trading as Store Twenty One.
