Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/
(Reversion) |
| Unit 1 |
Ground |
Retail |
341.88 sq m |
(3,680 sq ft) |
TRAVIS PERKINS
(PROPERTIES) LIMITED
t/a Tile Giant (1) |
20 years from
13/05/2008 (2) |
£40,000 |
13/05/2023
(12/05/2028) |
| Unit 2 |
Ground |
Retail |
319.50 sq m |
(3,439 sq ft) |
SALVATION ARMY
TRADING COMPANY
LIMITED (3) |
10 years from
04/12/2019 (4) |
£43,500 (5) |
(04/12/2024)
(03/12/2029) |
| Aspect 88 |
First,
Second
and Third |
20
Residential
Flats |
Not measured |
SP ASSETS LLP |
999 years from
25/04/2018 |
Peppercorn |
(24/04/3017) |
| Total |
|
|
661.40 sq m |
(7,119 sq ft) |
|
|
£83,500 |
|
(1) As to Unit 1, for the year ending 31st December 2018, Travis Perkins (Properties) Limited (CRN00468024) reported a turnover of £92,200,000, pre-tax profits of £52,200,000 and a total net worth of £277,100,000 (Source: Experian group 16/01/2020).
(2) As to Unit 1 ,the lease provides for a tenant option to determine the lease on 12/05/2023.
(3) For the year ending 31st March 2019, Salvation Army Trading Company Limited (CRN 02605817) reported a turnover of £54,317,884, pre-tax profits of £6,753,953 and a total net worth of £13,740,647 and is rated as "Very Low Risk" (Souce Experian Group 16/01/2020). The Salvation Army has approximately 50,000 members and 4,000 employees in the UK and Republic of Ireland and is part of the wider International Salvation Army which operates in 127 countries (Source: www.salvationarmy.org.uk).
(4) As to Unit 2, the lease provides for a tenant option to determine the lease on 13/05/2024.
(5) As to Unit 2, the lease provides for a rent free period until 4th June 2020. The Seller will pay the Buyer a sum equivalent to the current rent reserved of £43,500 per annum exclusive from completion of the sale until the end of the rent free period on 4th June 2020. Therefore the unit will produce £43,500 per annum exclusive from completion of the sale.
