Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/
(Reversion) |
Ground
First |
Office
Office |
149.20 sq m
151.60 sq m |
(1,606 sq ft)
(1,632 sq ft) |
REGENT OFFICE
CARE LIMITED
(1) |
5 years from
29/09/2018 on a full
repairing and insuring
lease (2) (3) |
£42,000 |
28/09/2021
(29/09/2023) |
Total
|
300.8 sq m |
(3,238 sq ft) |
|
|
£42,000 |
|
(1) Regent Office Care Limited was incorporated in 1986 and for the year ending 31st December 2017, reported a turnover of £40,125,037, pre-tax profits of £570,999 and a total net worth of negative -£3,534,155 and is rated by Experian as “Very low risk” (Source: Experian Group 12/06/2018).
(2) The tenant has been in occupation of the property by virtue of a lease from 12th July 2010 until 29th September 2018. The parties have agreed a reversionary lease by reference to the existing lease for a term of 5 years from 29th September 2018 until 2023 at a rent reserved of £42,000 per annum exclusive (p.a.x.), which is increased from £38,000 p.a.x. The seller will pay the buyer the difference between £38,000 p.a.x. and £42,000 p.a.x. from completion of the sale until 30th September 2018. Therefore, the property will produce £42,000 p.a.x. from completion of the sale.
(3) The lease is subject to a schedule of condition.
