Gala Casino Regent Street Northampton Northamptonshire NN1 2LA
Gala Casino Regent Street Northampton Northamptonshire NN1 2LA
Freehold Leisure Investment
Let to Gala Casinos Limited, with surety from Gala Group Finance Limited, until 2030 (subject to an option to renew for another term of up to 25 years)
No break clauses
Annual 2.5% compounded rental increases
Approximate site area of 0.29 hectares (0.72 acres)
Situated on major junction
Six week completion available
Lot 36
Auction 9th December 2010
Rent £179,385 per Annum
Status Withdrawn Post
Price
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Let to Gala Casinos Limited, with surety from Gala Group Finance Limited, until 2030 (subject to an option to renew for another term of up to 25 years)
No break clauses
Annual 2.5% compounded rental increases
Approximate site area of 0.29 hectares (0.72 acres)
Situated on major junction
Six week completion available
Lot 36
Auction 9th December 2010
Rent £179,385 per Annum
Status Withdrawn Post
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
53 miles south-east of Birmingham
20 miles west of Milton Keynes
55 miles west of Cambridge
Roads
M1, A45, A428
Rail
Northampton Rail
Air
Northampton Airport, Birmingham Airport
Situation
The property is situated on a large prominent site in Central Northampton at the junction of Broad Street (A508) and Grafton Street (A4500) with the main entrance being on Regent Street. The A4500 (Grafton Street) forms part of the Northampton ring road.
Tenure
Freehold.
Location
53 miles south-east of Birmingham
20 miles west of Milton Keynes
55 miles west of Cambridge
Roads
M1, A45, A428
Rail
Northampton Rail
Air
Northampton Airport, Birmingham Airport
Situation
The property is situated on a large prominent site in Central Northampton at the junction of Broad Street (A508) and Grafton Street (A4500) with the main entrance being on Regent Street. The A4500 (Grafton Street) forms part of the Northampton ring road.
Tenure
Freehold.
Description
The property is a modern purpose built CASINO BUILDING comprising GAMING FACILITIES on the ground and first floors. The property benefits from a prominent site area of approximately 0.29 hectares (0.72 acres) and some 59 marked 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 is a modern purpose built CASINO BUILDING comprising GAMING FACILITIES on the ground and first floors. The property benefits from a prominent site area of approximately 0.29 hectares (0.72 acres) and some 59 marked 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 and First
Casino
1,540 sq m
(16,580 sq ft)
GALA CASINOS LIMITED with surety from GALA GROUP FINANCE LIMITED (1) (3)
25 years from 19/09/2005 on a full repairing and insuring lease (2)
£179,385.04
2.5% compound annual increases on 19th September
Totals
1,540 sq m
(16,580 sq ft)
£179,385.04
(1) Gala Casino operate 27 Gala Casinos across the UK and Gibraltar. (Source: www.galacasino.co.uk 12/11/2010). Gala Casinos are part of The Gala Coral Group. The 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 (Source: 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 revised every 5 years.(3) The tenant has sub-let the property to Victoria Casino Limited, a wholly owned Gala Coral Group company.
