Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reversion |
| Ground |
Public House |
118.3 sq m |
(1,273 sq ft) |
SALT TOWN
LIMITED |
10 years from
17/03/2017 |
£22,500 (2) (4) |
16/03/2027 |
First
Second |
Offices
Offices |
95.2 sq m
56.6 sq m |
(1,025 sq ft)
(609 sq ft) |
ARRIVA NORTH
WEST LIMITED
(1) |
10 years from
24/06/2017 |
£8,800 (3) |
23/06/2027 |
Totals
|
270.10 sq m |
(2,907 sq ft) |
|
|
£31,300 |
|
(1) Arriva North West Limited were incorporated in 1953 and are a subsidiary of Arriva (2007) Limited and are ultimately owned by Deutsche Bahn AG. For the year ending 31st December 2016, Arriva North West Limited reported a turnover of £41,877,000, a pretax profit of negative £236,000 and a total net worth of £4,192,000 (Source: Experian Group 26/10/2017).
(2) The current rent reserved under the terms of the lease is £20,000 per annum exclusive (pax). The lease provides for a fixed rental increase to £22,500 pax from 17/03/2018 and to £25,000 from 17/03/2020. The Seller will pay the buyer the difference between £20,000 pax and £22,500 pax from completion of the sale until 17/03/2018, therefore the income from the ground floor public house will be £22,500 pax from completion of the sale.
(3) The lease provides for a fixed increase in rent to £9,200 p.a.x. from 24th June 2022.
(4) As to the lease to Salt Town Limited, the Seller is holding a rent deposit of £10,000.
