Mecca Bingo Corporation Street Rotherham S60 1NG

Mecca Bingo
Corporation Street
Rotherham
S60 1NG

Freehold Leisure Investment

Entirely let to Mecca Bingo Limited until 2021
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
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Leisure Investment

Entirely let to Mecca Bingo Limited until 2021
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

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

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Lower Ground Ground First Mezzanine	Leisure Leisure Leisure Ancillary	89.20 sq m 1,183.50 sq m 886.70 sq m 235.60 sq m	(960 sq ft) (12,734 sq ft) (9,541 sq ft) (2,536 sq ft)	MECCA BINGO LIMITED (1)	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.