Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/(Reversion) |
| Ground |
Retail |
99.03 sq m |
(1,066 sq ft) |
SAILORS'
SOCIETY (1) |
10 years from November
2016 (2 ) |
£26,000 (3) |
November 2021
(November 2026) |
| First |
Residential |
1 Bedroom Flat |
INDIVIDUAL |
1 year from 31/08/2016 |
£7,500 |
30/08/2017 |
Total Approximate
Commercial Floor Area |
99.03 sq m |
(1,066 sq ft) |
|
|
£33,500 |
|
(1) Founded almost 200 years ago in 1818, Sailors’ Society is a Christian charity supporting and caring for seafarers. (Source: www.sailorssociety.org 08/11/2016)
(2) The lease is due to complete imminently. The lease provides a tenant’s option to determine on the fifth anniversary of the term.
(3) For the purpose of clarification, the tenant will benefit from an initial 3 month rent free period followed by a 50% concessionary rent for 4 months. The rent will then increase to £24,000 per annum for the remainder of the first year, increasing to £25,000 per annum in Year 2 and £26,000 per annum in Year 3. The Seller has agreed to adjust the completion monies so that the unit effectively produces £26,000 per annum from completion of the sale.
