Entirely let to Five Go Mad in Dorset Limited t/a The Hive Bar (assigned from Johnson Cleaners UK Limited)
Busy Town Centre Location in Important London Commuter Town
Nearby occupiers include RBS, Ask Italian, The Money Shop and Prezzo.
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 72
Auction 7th July 2016
Rent £38,343 per Annum Exclusive
Status Sold
Price £325,000
Sector Leisure
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
21 miles north of Brighton, 23 miles west of Tunbridge Wells, 30 miles south of Central London
Roads
A23, A264, M23 (Junction 10, 10a, 11)
Rail
Crawley Rail
Air
London Gatwick Airport
Situation
Crawley is a popular London and Brighton commuter town located approximately 2 miles south of Gatwick Airport. The property is located in the heart of the town centre on the High Street, just a short distance from Crawley Rail Station and the pedestrianised Broadway retailing thoroughfare. Nearby occupiers include RBS, Ask Italian, The Money Shop and Prezzo.
Tenure
Freehold.
Location
Miles
21 miles north of Brighton, 23 miles west of Tunbridge Wells, 30 miles south of Central London
Roads
A23, A264, M23 (Junction 10, 10a, 11)
Rail
Crawley Rail
Air
London Gatwick Airport
Situation
Crawley is a popular London and Brighton commuter town located approximately 2 miles south of Gatwick Airport. The property is located in the heart of the town centre on the High Street, just a short distance from Crawley Rail Station and the pedestrianised Broadway retailing thoroughfare. Nearby occupiers include RBS, Ask Italian, The Money Shop and Prezzo.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation over first and second floor. The property benefits from a yard area and separate side entrance.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with ancillary accommodation over first and second floor. The property benefits from a yard area and separate side entrance.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
Reversion
Ground First Second
Leisure Ancillary Ancillary
61.70 sq m 42.90 sq m 24.50 sq m
(664 sq ft) (462 sq ft) (264 sq ft)
FIVE GO MAD IN DORSET LIMITED t/a The Hive Bar (1) (ON ASSIGNMENT FROM JOHNSON CLEANERS UK LIMITED) (2)
15 years from 24/06/2006 (3)
£38,343.97 (4)
23/06/2021
Total
129.10 sq m
(1,390 sq ft)
£38,343.97 (4)
(1) The Hive Bar is a cocktail bar located in the heart of Crawley High Street, serving up cocktails, spirits and beers until 3am 7 days a week (Source: www.thehivebaruk.com 23/05/2016) (2) Johnson Cleaners UK Limited remain liable by way of an Authorised Guarantee Agreement. Johnsons Dry Cleaners are the UKs leading provider of dry cleaning services for clothing and other items with a network of conveniently located stores nationwide. Johnsons Dry Cleaners are part of Johnson Service Group which has been in business for over 200 years. (Source: www.johnsoncleaners.com 23/05/2016) (3) The lease provided an option to determine on 24/06/2016. This option was not exercised by the tenant. (4) For the purpose of clarification the current rent is £34,500.76 pa with an RPI linked review in June 2016. The RPI as at June 2011 was 235.2 and as at April 2016 was 261.4 representing an 11.1395% increase which equates to £38,343.97 pa. The May and June RPI figures will determine the exact figure to which the rent will be reviewed.
Contacts
Seller's Solicitors
Fladgate LLP 16 Great Queen Street London WC2B 5DG
