Gala Bingo 52 Berrington Street Hereford Herefordshire HR4 0BJ

Gala Bingo
52 Berrington Street
Hereford
Herefordshire
HR4 0BJ

Freehold Leisure Investment with Potential

Let to Gala Leisure Limited until 2020
Development potential (subject to consents)
Located within popular cathedral city
Site area of approximately 0.332 acres (0.134 hectares)

Lot
63
Auction
7th December 2017
Rent
£50,000 per Annum Exclusive
Status
Sold
Price
£410,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Gala Leisure

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Freehold Leisure Investment with Potential

Let to Gala Leisure Limited until 2020
Development potential (subject to consents)
Located within popular cathedral city
Site area of approximately 0.332 acres (0.134 hectares)

Lot 63
Auction 7th December 2017
Rent £50,000 per Annum Exclusive
Status Sold
Price £410,000
Sector
Leisure
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On Behalf of Gala Leisure

Property Information

Location

Miles: 25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham Airport

Situation

Hereford is a a popular cathedral city in the West Midlands. The property is situated on Berrington Street, just off the main retailing pitch. Nearby occupiers include Crunch Fitness, Berrington Street NCP car park and Job Centre Plus. Adjacent to the property is the Packer House development, comprising office and retail accommodation.

Tenure

Freehold.

Location

Miles: 25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads: A49, A438, M5, M50
Rail: Hereford Railway Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises a bingo hall currently arranged to provide leisure accommodation on ground and first floors. The property benefits from a site area of 0.332 acres (0.134 hectares).

VAT

VAT is not applicable to this lot.

Completion Period

Five Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a bingo hall currently arranged to provide leisure accommodation on ground and first floors. The property benefits from a site area of 0.332 acres (0.134 hectares).

VAT

VAT is not applicable to this lot.

Completion Period

Five 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	Reversion
Ground First	Bingo Hall	966.19 sq m 369.10 sq m	(10,400 sq ft) (3,973 sq ft)	GALA LEISURE LIMITED (1)	2 years from completion of the sale on a full repairing and insuring lease (2)	£50,000	January 2020
Totals		1,335.29 sq m	(14,373 sq ft)			£50,000

(1) For over twenty years, Gala Bingo has been the UK’s most loved and trusted bingo operator, a household name in the gaming industry with over 143 clubs, 5 million members and paying out prizes across retail and online of over £42 million per week (Source:galabingo.com 13/11/2017). For the year ending 14th January 2017, Gala Leisure Limited reported a turnover of £360,710,000, a pre-tax loss of £19,031,000 and a total net worth of £222,896,000 (Source: Experian Group 13/11/2017.)
(2) The lease is subject to a schedule of condition. The lease provides a rolling landlord only option to determine subject to 3 months’ notice.