Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews(Reversion) |
No. 76 - Ground
- First |
Retail
Ancillary |
165.7 sq m
32.7 sq m |
(1,783 sq ft)
(352 sq ft) |
GREGGS PLC (1) |
10 years from 26/07/2010 on a full repairing and insuring lease (2) |
£44,000 (3) |
26/07/2015 |
No. 78 - Ground
- First |
Retail
Ancillary |
177.8 sq m
131.3 sq m |
(1,914 sq ft)
(1,413 sq ft) |
CLINTON CARDS (ESSEX) LIMITED (4) |
5 years from 25/03/2009 on a full repairing and insuring lease |
£45,000 (5) |
(24/03/2014) |
| Totals |
|
507.5 sq m |
(5,462 sq ft) |
|
|
£89,000 |
|
(1) For the year ending 2nd January 2010, Greggs plc reported a turnover of £658,186,000, pre-tax profits of £48,779,000 and a total net worth of £172,953,000.
(Source: www.riskdisk.com 07/01/2011)
(2) Under the terms of the lease, Greggs plc has an option to determine on 26th July 2015, following six months’ written notice.
(3) Greggs plc is currently benefiting from a rent free period. The seller has agreed to top-up the rent from completion of the sale until the expiry of the rent free period on 9th January 2012. The property will therefore effectively produce £44,000 p.a.x from completion of the sale.
(4) For the year ending 1st August 2010, Clinton Cards (Essex) Limited reported a turnover of £336,922,000, pre-tax profits of £12,239,000 and a net worth of £19,610,000.
(Source: www.riskdisk.com 26/01/2011)
(5) The current rent payable by Clinton Cards (Essex) Limited is £40,000 p.a.x. However, under the terms of the lease, there is a fixed rental increase on 25th March 2012 to £45,000 p.a.x. The seller has agreed to top-up the rent so that the property will produce £45,000 from completion of the sale until 24th March 2012.
