Mecca Bingo Albemarle Crescent Scarborough YO11 1XS

Mecca Bingo
Albemarle Crescent
Scarborough
YO11 1XS

Freehold Leisure Investment

Entirely let to Mecca Bingo Limited until 2021
Town centre location close to Brunswick Shopping Centre
RPI linked Rent Review in 2016
Tenant’s option to extend lease
Approximately 2,925 sq m (31,473 sq ft)
Six Week Completion

Lot
17
Auction
13th February 2014
Rent
£170,993 per Annum Exclusive
Status
Sold
Price
£1,100,000
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Important Update Interested?

Expand
Photos
Map

Freehold Leisure Investment

Entirely let to Mecca Bingo Limited until 2021
Town centre location close to Brunswick Shopping Centre
RPI linked Rent Review in 2016
Tenant’s option to extend lease
Approximately 2,925 sq m (31,473 sq ft)
Six Week Completion

Lot 17
Auction 13th February 2014
Rent £170,993 per Annum Exclusive
Status Sold
Price £1,100,000
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 40 miles north-east of York, 48 miles south-east of Middlesbrough
Roads: A64, A170, A1/M1 (Junction 50)
Rail: Scarborough Rail Station
Air: Durham Tees Valley (44 miles)

Situation

The property is situated in Scarborough town centre on the eastern side of Albemarle Crescent, close to its junction with the pedestrianised Westborough, the town’s prime retailing thoroughfare. The property lies less than 50 metres from Brunswick Shopping Centre which houses retailers such as Debenhams, Greggs, Dorothy Perkins and Carphone Warehouse.

Tenure

Freehold.

Location

Miles: 40 miles north-east of York, 48 miles south-east of Middlesbrough
Roads: A64, A170, A1/M1 (Junction 50)
Rail: Scarborough Rail Station
Air: Durham Tees Valley (44 miles)

Situation

Tenure

Freehold.

Description

The property comprises a substantial building currently used as a bingo hall providing reception area, gaming hall, staff rooms and ancillary and office accommodation over ground, first and basement floors. The second floor is not used by the tenant.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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
Ground and First Basement Second	Leisure Plant Unused	2,542 sq m 383 sq m Not measured	(27,352 sq ft) (4,121 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)	£170,993	29/09/2016 (4)
Totals		2,925 sq m	(31,473 sq ft)			£170,993

(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 £198,227.67 p.a.x.