Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x. |
Review/(Reversion) |
Ambrose House
– Unit 1 |
Ground
First
Second |
Office
Office
Office |
92.10 sq m
95.30 sq m
95.40 sq m |
(991 sq ft)
(1.026 sq ft)
(1.027 sq ft) |
BABTAC LIMITED (1) |
5 years from 12/07/2011 |
£36,500 |
(11/07/2016) |
Ambrose House
– Unit 2 |
Ground |
Office |
90.49 sq m |
(974 sq ft) |
NUVIA LIMITED (2) |
3 years from 12/09/2013 |
£12,662 |
(11/09/2016) |
Ambrose Hous
– Unit 2 |
First
Second |
Office
Office |
94.29 sq m
94.29 sq m |
(1,015 sq ft)
(1,015 sq ft) |
VACANT POSSESSION |
|
|
|
Ambrose House
– Unit 3 |
Ground
First
Second |
Office
Office
Office |
85.10 sq m
91.14 sq m
91.10 sq m |
(916 sq ft)
(981 sq ft)
(981 sq ft) |
VACANT POSSESSION |
|
|
|
| John Deere House |
Ground
First |
Office
Office |
244.73 sq m
244.73 sq m |
(2,634 sq ft)
(2,634 sq ft) |
JOHN DEERE BANK (SA)
UK BRANCH (3) |
10 years from 20/07/2015 (4) |
£60,000 (5) |
20/07/2015
(19/07/2025) |
| John Deere House |
Second |
Office |
244.73 sq m |
(2,634 sq ft) |
VACANT POSSESSION |
|
|
|
| Totals |
|
|
1,563.40 sq m |
(16,828 sq ft) |
|
|
£109,162 |
|
(1) Established in Gloucester in 1977, BABTAC is the premier UK association for beauty, hair, holistic and sports therapies. They are ‘not for profit’ and their main concerns are the well-being of their members, regulation of the industry and public welfare. (Source: www.babtac.com 25/09/2015)
(2) Nuvia is a leading international engineering, project management and services provider to the highly regulated nuclear, defence, oil and gas, and science and
research industries. Nuvia Group benefits from being part of Soletanche Freyssinet, a world leader in specialised civil and geotechnical engineering, and a wholly
owned subsidiary of VINCI, the world’s largest integrated concessions and construction group. (Source: www.nuvia.co.uk 25/09/2015)
(3) John Deere was founded in 1837. The company is best known for their quality agricultural and turf equipment, farm equipment, forestry equipment and construction equipment. John Deere Financial is one of the largest equipment finance companies. (Source: www.deere.co.uk 25/09/2015). The tenant has been occupying the property since 2005.
(4) The lease to John Deere is subject to conditional tenant options to determine on 20th July 2018 and 20th July 2021, subject to 12 months notice. Should the tenant exercise its option to determine on 20th July 2018 a penalty of £40,000 will be payable. Should the tenant exercise its option to determine on 20th July 2021 a penalty of £26,000 will be payable. Under the agreement for lease, the seller agreed to undertake a programme of refurbishment works, the works are due to complete prior to completion of the sale. Please see legal pack for further information.
(5) Under the terms of the lease, during the first year of the term the tenant is to benefit from a concessionary rent of £44,625 p.a.x,. The seller has agreed to adjust the completion monies so that the property will effectively produce £60,000 p.a.x from completion of the sale.
