Tenancy & Accommodation
| Floor |
Use |
Floor Areas
(Approx) |
Tenant |
Term |
Rent p.a.x |
Review |
Ground
First
Second |
Retail/Ancillary
Residential
Residential |
110.81 sq m
-
- |
(1,193 sq ft)
(-)
(-) |
SPACE NK
LIMITED (1) |
10 years from
22/04/2019 until
21/04/2029 on a full
repairing and insuring
leasee |
£62,500 (2) |
22/04/2024 |
Total Commercial Area
|
110.81 sq m |
(1,193 sq ft) |
|
|
£62,500 |
|
(1) For the year ending 30th March 2019, Space NK Limited reported a total turnover of £108,938,970, pre-tax profits of £3,027,523 and shareholders funds of £32,481,557 (source: SmartSearch 20/08/2020). Founded in 1991, Space NK first opened its doors in Covent Garden in 1993. Today there are 72 stores and a further 29 in the US (source: spacenk.com 20/08/2020). The flat on the first floor is sublet on a regulated tenancy at a rent of £3,384 pa (£282 pcm).
(2) Under the terms of the lease, the current rent is £60,000 pa, rising to £62,500 pa on 22/04/2021. The Vendor has agreed to adjust the completion monies so that the property effectively produces £62,500 pa from completion of the sale until the fixed rental increase on 22/04/2021.
