Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reversion |
174
Commercial
Street |
Ground |
Retail/
Ancillary |
165.70 sq m |
(1,784 sq ft) |
SANTANDER UK
PLC (1) (2) |
9 years
from
25/03/2010 |
£119,500 |
25/03/2019 |
175
Commercial
Street |
Ground
First |
Retail/Ancillary
Ancillary |
97.20 sq m
55.40 sq m |
(1,046 sq ft)
(596 sq ft) |
TUI UK RETAIL
LIMITED (3)
t/a Thomson |
10 years
from
27/05/2011 |
£35,000 |
26/05/2021 |
Unit 3
Westgate
Buildings |
Ground
First |
Retail/Ancillary
Ancillary |
11.20 sq m
208.60 sq m |
(121 sq ft)
(2,245 sq ft) |
BROOK STREET
(UK) LIMITED (4) |
5 years
from
13/11/2016
(5) |
£17,000 (6) |
12/11/2021 |
Units 4-5
Westgate
Buildings |
Ground
First |
Retail/Ancillary
Ancillary |
540.20 sq m
224.80 sq m |
(5,815 sq ft)
(2,420 sq ft) |
POUNDWORLD
RETAIL LIMITED
(7) |
10 years
from
19/10/2015
(8) |
£80,000 |
18/10/2025 |
Unit 7a
Westgate
Buildings |
Ground
Lower Ground |
Retail/Ancillary
Ancillary |
127.50 sq m
84.40 sq m |
(1,372 sq ft)
(908 sq ft) |
VACANT |
|
|
|
Unit 7b
Westgate
Buildings |
Ground
Lower Ground |
Retail/Ancillary
Ancillary |
46.30 sq m
24.40 sq m |
(498 sq ft)
(263 sq ft) |
INFINITY MIST
LIMITED |
5 years
from
18/02/2016 |
£19,500 |
17/02/2021 |
Unit 6
Westgate
Buildings |
Entrance,
Ground, First,
Second, Third,
Fourth and
Fifth |
Former Hotel |
Not measured |
GLN
PROPERTIES
LIMITED |
999 years
from
13/08/2012 |
Peppercorn |
12/08/3011 |
| Sub-station |
|
|
|
|
WESTERN
POWER
DISTRIBUTION
(SOUTH WALES)
PLC |
25 years
from
25/03/2001 |
Peppercorn |
24/03/2026 |
| Total Commercial |
|
1,585.70 sq m |
(17,068 sq ft) |
|
|
£271,000 |
|
(1) For the year ending 31st December 2017, Santander UK Plc reported pre-tax profits of £1,917,000,000 and a total net worth of £13,618,000,000 (Source: Experian Group 26/04/2017).
(2) The tenant is not currently in occupation.
(3) For the year ending 30th September 2015, TUI UK Retail Limited reported a turnover of £199,000,000, pre-tax profits of £8,000,000 and a total net worth of £8,000,000 (Source: Experian Group 21/04/2017).
(4) For the year ending 31st December 2015, Brook Street (UK) Limited reported a turnover of £260,776,000, pre-tax profits of £1,960,000 and a total net worth of
£45,318,000 (Source: Experian Group 21/04/2017).
(5) The lease is subject to a tenant option to determine on 13th November 2017 and annually thereafter. Should the tenant exercise their option to determine at the end of year one a nine month rent penalty is due, at the end of year two a six month rent penalty is due, at the end of year three a five month rent penalty is due, and at the end of year four a three month rent penalty is due.
(6) The tenant is currently benefiting from a rent free period due to expire 12th November 2017. The seller has agreed to adjust the completion monies so that the unit will produce £17,000 p.a.x. from completion of the sale.
(7) Poundworld is a leading value variety retail business with over 350 stores and 7,000 employees across the United Kingdom (www.poundworld.co.uk).
(8) The lease is subject to a tenant option to determine on 18th October 2020. Should the tenant exercise their option, a £20,000 break penalty is payable.
