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Status Withdrawn Post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
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) .
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
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.
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
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.
