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Withdrawn Post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

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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Status Withdrawn Post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
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

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

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.