Mecca Bingo 54 Eastgate Street Gloucester Gloucestershire GL1 1QN

Mecca Bingo
54 Eastgate Street
Gloucester
Gloucestershire
GL1 1QN

Freehold Leisure Investment

Entirely let to Mecca Bingo Limited - a part of The Rank Group
Approximately 23,004 sq ft with car parking
Site area of approximately 0.8 acres
Recent tenant break option not activated
Strategic town centre location close to Eastgate Shopping Centre
Option to renew the lease
Potential for alternative uses (subject to existing lease, planning and consents)

Lot
46
Auction
7th December 2017
Rent
£155,959 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Leisure Investment

Entirely let to Mecca Bingo Limited - a part of The Rank Group
Approximately 23,004 sq ft with car parking
Site area of approximately 0.8 acres
Recent tenant break option not activated
Strategic town centre location close to Eastgate Shopping Centre
Option to renew the lease
Potential for alternative uses (subject to existing lease, planning and consents)

Lot 46
Auction 7th December 2017
Rent £155,959 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Status Withdrawn Post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: 9 miles west of Cheltenham, 20 miles north-west of Cirencester, 37 miles north of Bristol
Roads: A38, A40, M5 (Junction 11a)
Rail: Gloucester Railway Station
Air: Bristol Airport

Situation

The property is situated on the southern side of Eastgate Street, close to Gloucester's prime retailing pitch and near to where Northgate, Southgate and Westgate Street meet. Eastgate Shopping Centre is located nearby with retailers including Marks & Spencer, WHSmith, Tesco Express, Greggs, Poundland and B&M Bargains. Other nearby occupiers include Boots the Chemist and New Look. Eastgate Shopping Centre also provides car parking for approximately 400 cars.

Tenure

Freehold.

Location

Miles: 9 miles west of Cheltenham, 20 miles north-west of Cirencester, 37 miles north of Bristol
Roads: A38, A40, M5 (Junction 11a)
Rail: Gloucester Railway Station
Air: Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises a bingo hall arranged over ground and circle floors with the basement providing ancillary accommodation. The property benefits from car parking to the rear.

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 bingo hall arranged over ground and circle floors with the basement providing ancillary accommodation. The property benefits from car parking to the rear.

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	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground Basement Circle Foyer Circle	1,308.57 sq m 58.58 sq m 393.40 sq m 376.56 sq m	(14,085 sq ft) (631 sq ft) (4,235 sq ft) (4,053 sq ft)	MECCA BINGO LIMITED (1)	Approximately 15 years from 10/08/2006 on a full repairing and insuring lease (2)	£155,959	28/09/2021
Totals	2,137.11 sq m	(23,004 sq ft)			£155,959

(1) For the year ending 30th 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 31/10/2017). Mecca Bingo are part of The Rank Group who have been entertaining Britain since 1937 under the Mecca & Grosvenor Casino brands (Source: www.rank.com 31/10/2017).
(2) The lease is full repairing and insuring, subject to a Schedule of Condition.

NB: Please note that the tenant has an option to renew the lease on expiry of the current lease and the term can be renewed for 5, 10 or 15 years at the tenant’s option.