Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reversion |
Ground
First
Second
|
Retail
Ancillary
Ancillary |
257.71 sq m
104.05 sq m
49.06 sq m |
(2,774 sq ft)
(1,120 sq ft)
(528 sq ft) |
KRUIDVAT REAL
ESTATE UK LIMITED
(t/a Savers) (1)
GUARANTEED BY
SUPERDRUG
STORES PLC (2) |
10 years from 24/06/2012
on a full repairing and
insuring lease by way of a reversionary lease (3) |
£65,000 |
23/06/2022 |
| Total |
|
410.82 sq m |
(4,422 sq ft) |
|
|
£65,000 rising to
£69,000 in 2020 (4) |
(1) Savers specialise in branded health, home and beauty products at everyday low prices with currently 300 stores trading across the UK. (Source: savers.co.uk 25/05/2016)
(2) For the year ending 27th December 2014, Superdrug Stores Plc reported a turnover of £1,058,047,000, pre-tax profits of £38,044,000 and a total net worth of £138,513,000. (Source: Experian Group 25/05/2016)
(3) The current lease is for a term of 5 years expiring 23rd June 2017, although, in addition, a reversionary lease is in place from expiry of the current term until 23rd June 2022. Kruivdat Real Estate UK Limited will benefit from a 6 month rent free period at the beginning of the reversionary lease. The seller has agreed to adjust the completion monies so that the unit will effectively produce £65,000 p.a.x. from completion of the sale.
(4) The lease provides fixed rental increase to £69,000 p.a.x on 24th June 2020.
