Mecca Bingo, The Playhouse 4 Boswell Park Ayr Ayshire KA7 1NW

  • Mecca Bingo, The Playhouse<br>4 Boswell Park<br>Ayr<br>Ayshire<br>KA7 1NW

Mecca Bingo, The Playhouse
4 Boswell Park
Ayr
Ayshire
KA7 1NW

Heritable (Scottish Equivalent to English Freehold) Leisure Investment

  • Entirely let to Mecca Bingo Ltd until 2021
  • Town centre location adjacent to Ayr’s Bus Terminal
  • Substantial building of 3,270.18 sq m (35,187 sq ft)
  • RPI rental uplift in 2016
  • Nearby occupiers include Boots and WH Smith
  • Approximate site area of 0.145 hectares (0.357 acres)
  • Lot
    25
  • Auction
    27th March 2014
  • Rent
    £14,909 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
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Heritable (Scottish Equivalent to English Freehold) Leisure Investment

  • Entirely let to Mecca Bingo Ltd until 2021
  • Town centre location adjacent to Ayr’s Bus Terminal
  • Substantial building of 3,270.18 sq m (35,187 sq ft)
  • RPI rental uplift in 2016
  • Nearby occupiers include Boots and WH Smith
  • Approximate site area of 0.145 hectares (0.357 acres)
  • Lot 25
  • Auction 27th March 2014
  • Rent £14,909 per Annum Exclusive
  • Status Sold Post
  • Price  
  • Sector
    Leisure
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
38 miles south-west of Glasgow, 60 miles north-west of Dumfries, 112 miles west of Galashiels
Roads
A77, A70
Rail
Ayr Railway Station
Air
Glasgow Prestwick Airport (4 miles), Glasgow International Airport (37 miles)
Situation

The property, a category B listed building, is located within a mixed residential and commercial area within Ayr town centre located off Boswell Park with Douglas Street to the east, Fullarton Street to the south and Sandgate (A719) to the west. The property is adjacent to Ayr’s bus terminal within close proximity to the main High Street and opposite the Royal Mail postal sorting office. Other nearby occupiers include Boots, Argos, Mountain Warehouse, WHSmith, Betfred and Ladbrokes.

Tenure

Heritable.

Location
Miles
38 miles south-west of Glasgow, 60 miles north-west of Dumfries, 112 miles west of Galashiels
Roads
A77, A70
Rail
Ayr Railway Station
Air
Glasgow Prestwick Airport (4 miles), Glasgow International Airport (37 miles)
Situation

The property, a category B listed building, is located within a mixed residential and commercial area within Ayr town centre located off Boswell Park with Douglas Street to the east, Fullarton Street to the south and Sandgate (A719) to the west. The property is adjacent to Ayr’s bus terminal within close proximity to the main High Street and opposite the Royal Mail postal sorting office. Other nearby occupiers include Boots, Argos, Mountain Warehouse, WHSmith, Betfred and Ladbrokes.

Tenure

Heritable.

Description

The property is a detached former cinema and it is currently used as a bingo hall providing a reception area, gaming hall and ancillary and office accommodation over ground and first 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 is a detached former cinema and it is currently used as a bingo hall providing a reception area, gaming hall and ancillary and office accommodation over ground and first floors.

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
Ground/
First
Leisure
3,270.18 sq m
35,187 sq ft

MECCA BINGO
LTD (1)
15 years from 10/07/2006 until 28/09/2021
on a full repairing and insuring lease
£144,909.26
29/09/2016
(4)
Totals  
3,270.18 sq m
(35,187 sq ft)
    £144,909.26  

1) For the year ending 30/06/2013, Mecca Bingo reported a revenue of £296.2m and an operating profit of £44.1m (source: Rank Group). Mecca Bingo is part of the
Rank Group. Formed in 1937, the Rank Group now operate 55 Grosvenor Casinos and 97 Mecca Bingo clubs in the UK, employing 11,000 people (Source: Rank Group).
(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 All Items Retail Price Index (RPI) and shall not exceed £167,989.55 p.a.x.

Contacts

Associate AuctioneersTom Withey 020 7861 1583tom.withey@knightfrank.com
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 West Regent Street
Glasgow
G2 1AP
Darina Kerr 0141 304 6070darina.kerr@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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