47-57 Promenade Bridlington North Yorkshire YO15 2QE

47-57 Promenade
Bridlington
North Yorkshire
YO15 2QE

Freehold Leisure Investment

Entirely Let to Buzz Group Ltd (formerly Gala Leisure Ltd) on a lease expiring 2039 (no breaks)
Annual RPI linked rental increases subject to a minimum of 1% and a maximum of 4%
Town centre location close to Promenades Shopping Centre
VAT-free investment

Lot
39
Auction
11th July 2019
Rent
£62,120 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Fund

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Freehold Leisure Investment

Entirely Let to Buzz Group Ltd (formerly Gala Leisure Ltd) on a lease expiring 2039 (no breaks)
Annual RPI linked rental increases subject to a minimum of 1% and a maximum of 4%
Town centre location close to Promenades Shopping Centre
VAT-free investment

Lot 39
Auction 11th July 2019
Rent £62,120 per Annum Exclusive
Status Sold Prior
Price
Sector
Leisure
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN
On behalf of a Major Fund

Property Information

Location

Miles: 41 miles east of York; 67 miles north-east of Leeds; 67 miles south-east of Middlesbrough
Roads: A165, A614
Rail: Bridlington Railway Station
Air: Leeds Bradford Airport

Situation

Bridlington is a popular tourist destination situated on the north-east coast of Humberside, 41 miles east of York and 67 miles north-east of Leeds. The property is located in the town centre close to Promenades Shopping Centre on Promenade, opposite its junction with Regent Terrace and 150 metres from the sea front. There are a number of public car parks located nearby. The Promenades Shopping Centre is located within close proximity, housing occupiers including Greggs, Holland & Barrett, Peacocks and Sports Direct. Other nearby occupiers include Subway, Boots, William Hill, Domino's and One Stop.

Tenure

Freehold.

Location

Miles: 41 miles east of York; 67 miles north-east of Leeds; 67 miles south-east of Middlesbrough
Roads: A165, A614
Rail: Bridlington Railway Station
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor bingo hall with ancillary accommodation above, together with four ground floor retail units and a snooker club at first floor. The retail units and Snooker Club are sublet.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not applicable to this lot.

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	Review
Ground First Second Sublet Shop No. 47 Shop No. 49 Shop No. 51 Shop No. 53 Snooker Club	Leisure Ancillary Ancillary Retail Retail Retail Retail Leisure	1,021.5 sq m 410.80 sq m 34.54 sq m 43.85 sq m 43.90 sq m 43.90 sq m 43.90 sq m 284.85 sq m	(10,996 sq ft) (4,422 sq ft) (372 sq ft) (472 sq ft) (472 sq ft) (472 sq ft) (472 sq ft) (3,066 sq ft)	BUZZ GROUP LIMITED (1) (formerly Gala Leisure Limited)	25 years from 19/12/2014 on a full repairing and insuring lease	£62,119.67	19/12/2019 Annual rental increases linked to RPI (2)
Total		1,927 sq m	(20,741 sq ft)			£62,119.67

(1) For the year ended 13th January 2018, Buzz Group Limited reported a turnover of £267,804,000, pre-tax profits of £13,692,000
and a net worth of £149,048,000 (Source: Experian 07/06/2019). "We're already Britain's biggest bingo club and now we're online too. We're proud to have 119 real clubs, a community of over 1 million real people" (Source: www.buzzbingo.com).
(2) The rent reviews are linked to the Retail Price Index subject to a minimum of 1% and a maximum of 4% with the next review in December 2019.