19 - 21 The Parade Watford Greater London WD17 1LQ

19 - 21 The Parade
Watford
Greater London
WD17 1LQ

Town Centre Leisure Investment

Let to Turtle Bay Restaurants Limited on a new 20 year lease (15 years term certain)
Prominent position in the heart of Watford town centre
Short distance from the recently extended Intu Shopping Centre
Nearby occupiers include Superdrug, Nando’s, McDonald’s and B&M Bargains

Lot
40
Auction
5th December 2018
Rent
£125,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Town Centre Leisure Investment

Let to Turtle Bay Restaurants Limited on a new 20 year lease (15 years term certain)
Prominent position in the heart of Watford town centre
Short distance from the recently extended Intu Shopping Centre
Nearby occupiers include Superdrug, Nando’s, McDonald’s and B&M Bargains

Lot 40
Auction 5th December 2018
Rent £125,000 per Annum Exclusive
Status Sold Post
Price
Sector
High Street Retail
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 5 miles north of Harrow; 6 miles east of Rickmansworth; 16 miles north of Central London
Roads: A4008, A41, M1
Rail: Watford High Street and Watford Junction
Air: London Luton

Situation

Watford is a major South East centre and a popular commuter town located some 18 miles north-west of Central London. The property occupies a prominent position on the pedestrianised Parade, with nearby occupiers including Nando’s, McDonald’s, Superdrug and B&M Bargains. The property is a short distance from the recently extended Intu Shopping Centre, which is anchored by John Lewis.

Tenure

Virtual Freehold. Held for a term of 999 years from 7 October 2016 at a peppercorn rent.

Location

Miles: 5 miles north of Harrow; 6 miles east of Rickmansworth; 16 miles north of Central London
Roads: A4008, A41, M1
Rail: Watford High Street and Watford Junction
Air: London Luton

Situation

Tenure

Virtual Freehold. Held for a term of 999 years from 7 October 2016 at a peppercorn rent.

Description

The property comprises a ground floor, double fronted restaurant with basement ancillary accommodation. The property forms part of a larger building, the remainder of which does not form part of the sale.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at www.acuitus.co.uk.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

EPC Rating Band C. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement	Restaurant/Ancillary Ancillary	311.78 sq m 129.13 sq m	(3,356 sq ft) (1,390 sq ft)	TURTLE BAY RESTAURANTS LIMITED (1)	20 years from 05/04/2018 until 04/04/2038 on an effective full repairing and insuring lease (2)	£125,000	04/04/2023 and five yearly
Total		440.91 sq m	(4,746 sq ft)			£125,000

(1) Turtle Bay is a Caribbean restaurant chain with restaurants in 43 locations, including Oxford, York, Leeds, Newcastle, Guildford, Nottingham, Manchester, Bath and Exeter. For the year ending 25 February 2017, Turtle Bay Restaurants Limited reported a turnover of £63,693,415, pre-tax profits of £8,201,738 and a total net worth of £4,090,268 (Sources: www.turtlebay.co.uk and Experian Group 01/11/2018).
(2) The lease provides a tenant option to determine on the fifteenth anniversary of the lease