21-22 Gandy Street Exeter Devon EX4 3LS

21-22 Gandy Street
Exeter
Devon
EX4 3LS

Busy Restaurant Investment

Let to Ask Restaurants Ltd (guaranteed by Ask Central Limited) on a 25 year lease until June 2029
City centre location within close proximity to the Guildhall Shopping Centre
Nearby occupiers include Café Rouge, Bella Italia, Lloyds Bank and Phones 4U

Lot
20
Auction
9th July 2014
Rent
£166,411 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Busy Restaurant Investment

Let to Ask Restaurants Ltd (guaranteed by Ask Central Limited) on a 25 year lease until June 2029
City centre location within close proximity to the Guildhall Shopping Centre
Nearby occupiers include Café Rouge, Bella Italia, Lloyds Bank and Phones 4U

Lot 20
Auction 9th July 2014
Rent £166,411 per Annum Exclusive
Status Sold Prior
Price
Sector
Leisure
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 64 miles south-west of Bristol, 35 miles north-east of Plymouth
Roads: A30, A38, M5
Rail: Exeter Central Station
Air: Exeter International

Situation

Located in the heart of Devon, Exeter benefits from excellent road communications with direct links to the M5 (Junctions 29 and 30) which connects with the M4 motorway to the north granting easy access to London. The subject property is situated within the town centre on the eastern side of Gandy Street in close proximity to the Guildhall Shopping Centre and High Street, the city’s prime retail thoroughfare. Nearby occupiers include Café Rouge Bar, Bella Italia, Lloyds Bank and Phones 4U.

Tenure

Long Leasehold. Held from Exeter City Council for a term of 125 years from 23rd June 2003 until 2128 at a peppercorn rent.

Location

Miles: 64 miles south-west of Bristol, 35 miles north-east of Plymouth
Roads: A30, A38, M5
Rail: Exeter Central Station
Air: Exeter International

Situation

Tenure

Long Leasehold. Held from Exeter City Council for a term of 125 years from 23rd June 2003 until 2128 at a peppercorn rent.

Description

The property comprises an end parade period building providing a restaurant on the ground floor with ancillary, staff and storage accommodation at first floor
level. The property also benefits from a large outdoor seating area to the rear.

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	Reviews
Ground First	Restaurant/ Retail/Kitchen Ancillary/Retail	324.23 sq m 165.06 sq m	(3,490 sq ft) (1,776 sq ft)	ASK RESTAURANTS LTD (1) guaranteed by Ask Central Ltd (2) (3)	25 years from 24/06/2004 until 23/06/2029 on a full repairing and insuring lease	£166,411	24/06/2019 and 5 yearly thereafter
Totals		489.29 sq m	(5,266 sq ft)			£166,411

(1) For the year ending 30/06/2013, Ask Restaurants Limited reported a turnover of £193,000,000, pre-tax profits of £3,890,000 and a total net worth of
£141,000,000. (Source: www.riskdisk.com 12/07/2014)
(2) For the year ending 30/06/2013, Ask Central Limited reported a pre-tax profit of £20,570,000 and a net worth of £560,270,000.
(3) Part of the property has been sublet to White Stuff.