Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reversion |
Ground
Ground
Basement
Part First
Part First
Second |
Retail
Storage
Ancillary
Retail/Ancillary
Office
Office |
178.65 sq m
102.28 sq m
27.96 sq m
31.02 sq m
141.11 sq m
71.81 sq m |
(1,923 sq ft)
(1,101 sq ft)
(301 sq ft)
(334 sq ft)
(1,519 sq ft)
(773 sq ft) |
BOOTS UK
LIMITED (1) (2) |
10 years & 3
days from
29/03/2013 (3)
on a full
repairing and
insuring lease |
£47,025.16
(3) with
annual
increases (4) |
31/03/2023 |
Total
|
552.83 sq m |
(5,951 sq ft) |
|
|
£47,025.16 |
|
(1) For the year ending 31st August 2016, Boots UK Limited reported a turnover of £6,876,000,000, pre-tax profits of £523,000,000 and a total net worth of £1,204,000,000 (Source: Experian Group 17/01/2018). Boots is the UK’s leading pharmacy-led health and beauty retailer with around 2,500 stores in the UK, ranging from local community pharmacies to large destination health and beauty stores. Boots UK is part of the Retail Pharmacy International Division of Walgreens Boots Alliance, Inc, the first global pharmacy-led health and wellbeing enterprise (Source: www.boots-uk.com 23/02/2018).
(2) We understand the tenant has sublet part of the ground floor to Jans Floral Boutique Limited.
(3) The tenant is currently benefitting from a rent free period expiring 31/12/2018 in exchange for removing the 2020 break option. The seller has agreed to adjust the completion monies so that the unit effectively produces £47,025.16 from the completion of the sale.
(4) The lease provides for annual fixed rental increases of 1.5%. The rent will therefore increase to £47,730.53 p.a.x on 01/04/2019, £48,446.49 p.a.x on 01/04/2020, £49,173.19 on 01/04/2021 and £49,910.79 on 01/04/2022.
