Gala Bingo, 80/82 Staines Road Hounslow Greater London TW3 3LF

Gala Bingo, 80/82 Staines Road
Hounslow
Greater London
TW3 3LF

Freehold Leisure Investment

Let to Gala Leisure Limited, with surety from Gala Group Finance Limited, until 2032 (subject to an option to renew for another term up to 25 years)
Situated in Busy West London suburb
Substantial site suitable for alternative uses (subject to consents)
Let off only £6.19 per sq ft
Annual 2.5% comounded rental increases
Approximate site area of 0.52 hectares (1.27 acres)
Six Week Completion Available
Rent £174,124.60 per annum exclusive rising to £178,477.72 at 13/01/2011 and 2.5% growth every year thereafter

Lot
16
Auction
9th December 2010
Rent
£174,124 per Annum Exclusive
Status
Sold
Price
£2,800,000
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Leisure Investment

Let to Gala Leisure Limited, with surety from Gala Group Finance Limited, until 2032 (subject to an option to renew for another term up to 25 years)
Situated in Busy West London suburb
Substantial site suitable for alternative uses (subject to consents)
Let off only £6.19 per sq ft
Annual 2.5% comounded rental increases
Approximate site area of 0.52 hectares (1.27 acres)
Six Week Completion Available
Rent £174,124.60 per annum exclusive rising to £178,477.72 at 13/01/2011 and 2.5% growth every year thereafter

Lot 16
Auction 9th December 2010
Rent £174,124 per Annum Exclusive
Status Sold
Price £2,800,000
Sector
Leisure
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

12 miles west of Central London
Roads: M4, A4, M25, A315
Rail: Hounslow Central (Underground), Hounslow Rail
Air: Heathrow Airport

Situation

Hounslow is a busy and diverse London suburb and is home to Heathrow Airport. The property is situated on the south side of Staines Road (A315), approximately 200 metres west of the busy pedestrianised town centre. Hounslow benefits from being a major retailing location centred around the significant Treaty Shopping Centre. Other major occupiers include Primark, Boots, Marks & Spencer and W H Smith.

Tenure

Freehold.

Location

12 miles west of Central London
Roads: M4, A4, M25, A315
Rail: Hounslow Central (Underground), Hounslow Rail
Air: Heathrow Airport

Situation

Tenure

Freehold.

Description

The property comprises is a single storey BINGO CLUB on a site of approximately 0.52 hectares (1.27 acres). The property benefits from some 55 car parking spaces.

VAT

VAT is not applicable to this lot.

EPC

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

Description

The property comprises is a single storey BINGO CLUB on a site of approximately 0.52 hectares (1.27 acres). The property benefits from some 55 car parking spaces.

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	Reviews
Ground	Bingo Hall	2,614 sq m	(28,137 sq ft)	GALA LEISURE LIMITED with surety from GALA GROUP FINANCE LIMITED (1)	25 years from 02/03/2007 until 2032 on a full repairing and insuring lease (2)	£174,124.60	2.5% compound annual increases on 13th January
Totals		2,614 sq m	(28,137 sq ft)			£174,124.60

(1) Gala is the UK’s leading bingo operator with 144 clubs throughout the UK with 22 million admissions every year and a 40% market share and over 6 million members. The Gala Coral Group is the only gambling company in the UK with significant businesses in the bookmaking, bingo and casino markets, both on the High Street and online. (Sources: www.galabingo.co.uk 12/11/2010 and www.galacoral.co.uk)(2) The lease provides for the tenant to renew the lease for a further term between 5 and 25 years at the end of the term. On renewal of the lease the rent will be reviewed every 5 years.