Town centre location close to Cascades Shopping Centre
RPI linked Rent Review in 2016
Tenant’s option to extend lease
Approximately 2,432.40 sq m (26,173 sq ft)
Six Week Completion
Lot 13
Auction 13th February 2014
Rent £111,868 per Annum Exclusive
Status Sold
Price £880,000
Sector Leisure
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
8 miles north-east of Sheffield, 33 miles south of Leeds
Roads
A629, A630, M1 (Junction 34)
Rail
Rotherham Central Rail Station
Air
Robin Hood Airport Doncaster Sheffield, Leeds Bradford International Airport
Situation
The property is situated in Rotherham town centre on the eastern side of Corporation Street, close to its junction with the pedestrianised Upper Millgate. The property lies adjacent to Wilkinson and is less than 100 metres from Cascades Shopping Centre which houses retailers such as Superdrug, Argos and William Hill.
Tenure
Freehold.
Location
Miles
8 miles north-east of Sheffield, 33 miles south of Leeds
Roads
A629, A630, M1 (Junction 34)
Rail
Rotherham Central Rail Station
Air
Robin Hood Airport Doncaster Sheffield, Leeds Bradford International Airport
Situation
The property is situated in Rotherham town centre on the eastern side of Corporation Street, close to its junction with the pedestrianised Upper Millgate. The property lies adjacent to Wilkinson and is less than 100 metres from Cascades Shopping Centre which houses retailers such as Superdrug, Argos and William Hill.
Tenure
Freehold.
Description
The property comprises a substantial building currently used as a bingo hall providing reception area, gaming hall and ancillary and office accommodation over lower ground, ground, first and mezzanine floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial building currently used as a bingo hall providing reception area, gaming hall and ancillary and office accommodation over lower ground, ground, first and mezzanine floors.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
15 years from 10/07/2006 until 28/09/2021 on a full repairing and insuring lease (2) (3)
£111,868
29/09/2016 (4)
Totals
2,395.00 sq m
(25,771 sq ft)
£111,868
(1) For the year ending 30th June 2012, Mecca Bingo Limited reported a turnover of £329,085,000, pre-tax profits of £90,101,000 and a total net worth of £469,538,000. (Source: www.riskdisk.com 17/01/2014) Mecca Bingo Limited are a subsidiary company of Rank Group Gaming Division Ltd. Formed in 1937, the Rank Group now operate 55 Grosvenor Casinos and 97 Mecca Bingo clubs in the UK, employing 11,000 people. (Source: www.rank.com 20/01/2014) (2)The lease is subject to a schedule of condition. (3)The lease provides a tenant’s option to extend the lease. (4)The 2016 rent review is linked to the Retail Price Index (RPI) and shall not exceed £129,687.93 p.a.x.
