Tenancy & Accommodation
| Floor |
Use |
Floor Areas
(Approx) |
Tenant |
Term |
Rent p.a.x. |
Review/
(Reversion) |
| Ground |
Retail/Ancillary |
47.10 sq m |
(507 sq ft) |
Avicenna Retail Ltd
with a guarantee from
Avicenna Ltd (1)
t/a Sheppard’s
Pharmacy |
15 years from
completion of the
sale on a full
repairing and
insuring lease (2) |
£7,000 |
5 yearly
compounded
RPI-Indexed Rent
Reviews (capped
at 3% and
collared at 1%) |
Total
|
47.10 sq m |
(507 sq ft) (3) |
|
|
£7,000 |
|
(1) For the year ending 31st July 2020, Avicenna Retail Limited reported a turnover of £22,782,836, pre-tax profits of £1,078,131 and shareholder funds of £10,571,443 (Source: NorthRow). For the year ending 31st July 2020, Avicenna Limited reported a turnover of £48,744,957, pre-tax profits of £-4,556,151, and shareholder funds of £14,231,084 (Source: NorthRow 24/05/2021). According to Avicenna's website (www.avicenna.org) Avicenna Pharmacy's "estate of 135 stores is based primarily in the south of England, the north east and Wales. Delivering excellent patient care is central to what we do and each pharmacy succeeds in delivering a high quality service to its local community."
(2) The lease provides a tenant option to extend the lease for a further 10 years.
(3) The above floor areas have been published by the Valuation Office Agency at www.voa.gov.uk and a description of the property has been provided by the seller.
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