Gala Bingo 1 Streetly Road, Stockland Green Birmingham B23 7BH

Gala Bingo
1 Streetly Road, Stockland Green
Birmingham
B23 7BH

Freehold Leisure Investment

Let to Gala Leisure Limited until 2039
Prominent corner location in a busy Birmingham suburb
Annual RPI linked rental increases subject to a minimum of 0% and maximum of 4%
Nearby occupiers include Lloyds Pharmacy, Kwik Fit and Ladbrokes
Approximate site area of 0.19 hectares (0.48 acres) with on-site parking
Producing £83,160 per annum exclusive with imminent rental uplift
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
9
Auction
10th December 2015
Rent
£83,160 per Annum Exclusive
Status
Sold
Price
£1,270,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of M&G Real Estate

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Freehold Leisure Investment

Let to Gala Leisure Limited until 2039
Prominent corner location in a busy Birmingham suburb
Annual RPI linked rental increases subject to a minimum of 0% and maximum of 4%
Nearby occupiers include Lloyds Pharmacy, Kwik Fit and Ladbrokes
Approximate site area of 0.19 hectares (0.48 acres) with on-site parking
Producing £83,160 per annum exclusive with imminent rental uplift
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 9
Auction 10th December 2015
Rent £83,160 per Annum Exclusive
Status Sold
Price £1,270,000
Sector
Leisure
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of M&G Real Estate

Property Information

Location

Miles: 3.5 miles north-east of Birmingham; 19 miles north-west of Coventry, 46 miles south-west of Nottingham
Roads: A4040, M6
Rail: Erdington Railway Station
Air: Birmingham City Airport

Situation

Stockland Green is a busy and popular residential suburb of Birmingham situated some 3.5 miles north-east of Birmingham City Centre. The property is situated in a prominent and busy crossroad intersection, close to the A4040 on the eastern side of Streetly Road and at its junction with Marsh Lane (B4531). The A4040 provides direct access to the M6 which is some 1 mile away.

Tenure

Freehold.

Location

Miles: 3.5 miles north-east of Birmingham; 19 miles north-west of Coventry, 46 miles south-west of Nottingham
Roads: A4040, M6
Rail: Erdington Railway Station
Air: Birmingham City Airport

Situation

Tenure

Freehold.

Description

The property comprises a former cinema, currently used as a bingo hall. The property benefits from a large site area of approximately 0.19 hectares (0.48 acres), with on-site parking.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 Mezzanine First Second	Bingo Hall Ancillary Bingo Hall Plant Rooms	1,033.61 sq m 87.53 sq m 759.82 sq m 43.57 sq m	(11,126 sq ft) (942 sq ft) (8,179 sq ft) (469 sq ft)	GALA LEISURE LIMITED (1)	25 years from 19/12/2014 on a full repairing and insuring lease	£83,160	19/12/2015 Annual rental increases linked to RPI (2)
Totals		1,924.53 sq m	(20,715 sq ft)			£83,160

(1) For the year ending 27th September 2014, Gala Leisure Limited reported a turnover of £280,062,000, pre-tax profits of £78,983,000 and a total net worth of
£258,505,000. (Source: www.experian.co.uk 03/11/2015)
(2)The rent reviews are linked to the Retail Price Index subject to a minimum of 0% and maximum of 4% with the next review in December 2015.