Mecca Bingo 24 Manderston Street, Leith Edinburgh EH6 8LY

Mecca Bingo
24 Manderston Street, Leith
Edinburgh
EH6 8LY

Heritable Leisure Investment

Entirely let to Mecca Bingo Ltd until 2021
Located on Manderston Street, off Leith Walk (A900)
Substantial building of 3,912.90 sq m (42,119 sq ft)
Nearby occupiers include national retailers such as Ladbrokes, Subway and Greggs on Leith Road
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
66
Auction
30th March 2017
Rent
£149,848 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Leisure Investment

Entirely let to Mecca Bingo Ltd until 2021
Located on Manderston Street, off Leith Walk (A900)
Substantial building of 3,912.90 sq m (42,119 sq ft)
Nearby occupiers include national retailers such as Ladbrokes, Subway and Greggs on Leith Road
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 66
Auction 30th March 2017
Rent £149,848 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 1.3 miles north-east of Edinburgh city centre, 47 miles east of Glasgow, 35 miles north of Galashiels
Roads: A199, A902, A1, M8 (Junction 1)
Rail: Edinburgh Train Station (2 miles)
Air: Edinburgh Airport (8.3 miles)

Situation

The property is located in Leith, a district to the north of the city of Edinburgh. The building is located on Manderston Street, off Leith Walk (A900), a busy thoroughfare which connects the city centre to the waterfront and docks. The area is in a predominantly residential and industrial area with a number of motor trade businesses operating from the same terrace. Other nearby occupiers on Leith Walk include Ladbrokes, William Hill, Cashino Gaming, Scotmid Co-operative, Pizza Hut, Subway and Greggs.

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Location

Miles: 1.3 miles north-east of Edinburgh city centre, 47 miles east of Glasgow, 35 miles north of Galashiels
Roads: A199, A902, A1, M8 (Junction 1)
Rail: Edinburgh Train Station (2 miles)
Air: Edinburgh Airport (8.3 miles)

Situation

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Description

The property comprises a substantial former theatre building. The property is currently used as a bingo hall providing a foyer area, gaming hall, storage and ancillary and office accommodation over basement, ground and two upper levels. The property benefits from a site area of approximately 0.295 hectares (0.73 acres).

VAT

VAT is not 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

VAT

VAT is not 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	Reviews
Foyer & Basement Ground Circle Upper Circle	Bingo Hall/ Ancillary	763.26 sq m 1,512.65 sq m 1,162.29 sq m 474.70 sq m	(8,216 sq ft) (16,282 sq ft) (12,511 sq ft) (5,110 sq ft)	MECCA BINGO LTD (1)	Approximately 15 years from 10/07/2006 on a full repairing and insuring lease (2)	£149,848	28/09/2021 (3)
Total		3,912.90 sq m	(42,119 sq ft)			£149,848

(1) For the year ending 30 June 2016, Mecca Bingo Limited reported a turnover of £209,543,000, pre-tax profits of £36,665,000 and a total net worth of £488,346,000 (Source: Experian Group: 03/03/2017). Mecca Bingo is part of the Rank Group. Formed in 1937, the Rank Group, which also runs Grosvenor Casinos, operates 87 Mecca bingo venues in the UK (Source: Rank Group).
(2) The lease is subject to a Schedule of Condition.
(3) The lease provides a tenant’s option to extend the lease.