Tenancy & Accommodation
| Unit |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a |
Review/(Reversion) |
Ground/1st Floor
2-10 Riverside Walk |
Retail |
714.06 sq m |
(7,686 sq ft) |
ARGOS DISTRIBUTORS LIMITED
(t/a Argos) (1) |
35 years from 24/06/1989 until
23/06/2024 |
£45,000 |
24/06/2017 |
| 12 |
Vacant |
97.92 sq m |
(1,054 sq ft) |
VACANT |
|
£15,000 (2) |
|
| 14 Riverside Walk |
Vacant |
94.85 sq m |
(1,021 sq ft) |
VACANT |
|
£15,000 (2) |
|
| 16 Riverside Walk |
Vacant |
98.11 sq m |
(1,056 sq ft) |
VACANT |
|
£15,000 (2) |
|
| 18 Riverside Walk |
Retail |
90.95 sq m |
(979 sq ft) |
SUE RYDER FOUNDATION |
21 years from 24/10/1990 until
23/10/2011. Holding Over (3) |
£13,250 |
|
| 20 Riverside Walk |
Retail |
199.56 sq m |
(2,148 sq ft) |
SPECSAVERS OPTICAL SUPERSTORES LIMITED (4) |
10 years from 12/03/2007 |
£27,500 |
(11/03/2017) |
| 11-19 Riverside Walk |
Retail |
1,179.23 sq m |
(12,693 sq ft) |
MACKAYS STORES LIMITED
(t/a M & Co Clothing) (5) |
25 years from 29/09/1993 |
£84,300 |
(28/09/2018) |
| 21 Riverside Walk |
Bank |
227.61 sq m |
(2,450 sq ft) |
NATIONWIDE BUILDING
SOCIETY (6) |
10 years from 10/06/2008 |
£40,000 |
(09/06/2018) |
| 23 Riverside Walk |
Retail |
126.35 sq m |
(1,360 sq ft) |
ST NICHOLAS HOSPICE
(SUFFOLK) |
New 10 year lease from 03/06/2014
(7) |
£15,000 |
Increasing to £16,000 at year 4 and £17,000 at year 5 |
| 25 Riverside Walk |
Retail |
99.22 sq m |
(1,068 sq ft) |
CANCER RESEARCH UK |
10 years from 30/04/2007 |
£17,250 |
(29/04/2017) |
| 27 Riverside Walk |
Retail |
96.90 sq m |
(1,043 sq ft) |
R MANSER PLUMBING &
HEATING LIMITED |
5 years from 20/09/2013 (8) |
£11,000 |
(19/09/2018) |
| 29 Riverside Walk |
Retail |
100.52 sq m |
(1,082 sq ft) |
MG CUSAK, J I CUSAK LIMITED
& LF GILL (t/a Special Thoughts
Cards) |
25 years from 25/03/1991 |
£15,250 |
(24/03/2016) |
| 31 Riverside Walk |
Retail |
98.20 sq m |
(1,057 sq ft) |
ZLYAETIN YUKSEL
(t/a USA Fried Chicken) |
15 years from 29/09/1999 |
£12,500 |
(28/09/2014) |
| 33 Riverside Walk |
Retail |
96.34 sq m |
(1,037 sq ft) |
HAART LIMITED guaranteed by
Spicer Haart Property Services Ltd |
5 years from 09/10/2010 |
£13,500 |
(08/10/2015) |
| 35/37 Riverside Walk 1st Floor Only |
Nightclub |
162.95 sq m |
(1,754 sq ft) |
AYALA UK LIMITED
(t/a Ice Nightclub) |
5 years from 01/11/2009 |
£15,000 |
(31/10/2014) |
| 39 Riverside Walk |
Retail |
70.24 sq m |
(756 sq ft) |
BARNARDO’S |
5 years from 22/06/2007 until
21/06/2012. Holding Over |
£22,000 |
|
| 35/37/39 King Street & 41 Riverside Walk |
Bank |
526.77 sq m |
(5,670 sq ft) |
LLOYDS BANK PLC |
10 years from 03/02/2012 until
02/02/2022 (9) |
£65,000 |
03/02/2017 |
| 39A Riverside Walk Ground Floor Only |
Retail |
40.51 sq m |
(436 sq ft) |
IAN BARRY & YVONNE DIANE
PETERS (t/a Sweet Things) |
2 years from 15/08/2012 (10) |
£4,950 |
(15/08/2014) |
| Totals |
|
4,120.29 sq m |
(44,350 sq ft) |
|
|
£446,500 Gross |
(1) For the year ending 02/03/2013, Argos Ltd reported a turnover of £3,752,634,000, pre-tax profits of £84,662,000 and a total net worth of £1,249,775,000. (Source: www.riskdisk.com 13/06/2014)
(2) The sellers will adjust the completion monies with regard to the vacant units at no 12, 14 and 16 so that they effectively produce an additional £45,000 pa for 1 year from the date of completion.
(3) A new 10 year lease has been agreed at £12,350 pa from 16/12/2013 with a 5 yearly review and a tenant’s option to determine the lease after 5 years and a Landlord’s option to determine the lease after 2 years giving 6 months notice.
(4) For the year ending 28/02/2013, Specsavers Optical Superstores Ltd reported a turnover of £3,752,634,000, pre-tax profits of £15,349,000 and a total net worth of £100,290,000. (Source: www.riskdisk.com 13/06/2014)
(5) A rent review is outstanding from 29/09/2013. For the year ending 22/02/2013, Mackays Stores Ltd reported a turnover of £168,911,000, pre-tax profits of -£5,262,000 and a total net worth of £32,130,000 (Source: www.riskdisk.com 13/06/2014)
(6) A rent review is outstanding from 10/06/2013. For the year ending 04/04/2013, Nationwide Building Society reported a pre-tax profit of £210,000,000 and a total net worth of £131,260,000,000. (Source: www.riskdisk.com 13/06/2014)
(7) The lease includes a 3 month rent free period with a tenant’s option to determine the lease on 03/06/2017 and 03/06/2021.
(8) The tenants have an option to determine the lease on 20/09/2015
(9) The tenants have an option to determine the lease on 03/02/2017. For the year ending 31/12/2013, Lloyds Bank PLC reported a pre-tax profit of £894,000,000 and a total net worth of £34,109,000,000. (Source: www.riskdisk.com 13/06/2014)
(10) The lease is outside the provisions of the 1954 Landlord and Tenant Act.
