Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/
(Reversion) |
Ground
First
Basement
Second |
Retail/Ancillary
Retail/Ancillary
Ancillary
Ancillary |
107.49 sq m
102.75 sq m
97.92 sq m
74.60 sq m |
(1,157 sq ft)
(1,106 sq ft)
(1,054 sq ft)
(803 sq ft) |
TRESPASS
EUROPE LIMITED
(1) |
10 years from
03/03/2018 on a
full repairing and
insuring lease (2) |
£150,000 (3) |
03/03/2023
(02/03/2028) |
Total
|
382.76 sq m |
(4,120 sq ft) |
|
|
£150,000 (3) |
|
(1) First established in 1938, Trespass is one of the UK’s most successful outdoor clothing retailers. They currently have over 230 stores across the UK and in mainland Europe, as well as a network of wholesale clients across the world and a thriving e-commerce website (Source: www.trespass.com 13/06/2018). Trespass Europe Ltd is a subsidiary of Jacobs & Turner Ltd who for the year ending 25th June 2017 reported a turnover of £99,430,896, pre tax profits of £4,181,599 and a total net worth of £50,508,351 (Source: Experian Group 18/06.2018).
(2) The lease is subject to a tenant’s option to determine on 03/03/2023.
(3) For the purpose of clarification, the tenant is currently benefitting from a rent free period due to expire on 3rd September 2018. The rent will then be £130,000 p.a. due to increase annually by £5,000 p.a. until reaching £150,000 p.a. in March 2022. The Seller has agreed to adjust the completion monies so that the unit effectively produces £150,000 from completion of the sale.
