Gala Bingo, Tong Street Bradford West Yorkshire BD4 9LU

Gala Bingo, Tong Street
Bradford
West Yorkshire
BD4 9LU

Freehold Leisure Investment

Let to Gala Leisure Limited with surety from Gala Group Finance plc
Substantial site suitable for alternative uses (subject to consents)
Annual 2.5dompound rental increases
Approximate site area of 0.625 hectares (1.545 acres)
Nearby occupiers Netto, Superdrug, Pound Stretcher, Iceland and Wynsors Shoes
Let off £6.36 per sq ft
Six Week Completion Period Available

Lot
22
Auction
8th December 2011
Rent
£206,650 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Leisure Investment

Let to Gala Leisure Limited with surety from Gala Group Finance plc
Substantial site suitable for alternative uses (subject to consents)
Annual 2.5dompound rental increases
Approximate site area of 0.625 hectares (1.545 acres)
Nearby occupiers Netto, Superdrug, Pound Stretcher, Iceland and Wynsors Shoes
Let off £6.36 per sq ft
Six Week Completion Period Available

Lot 22
Auction 8th December 2011
Rent £206,650 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Leisure
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 7 miles west of Leeds, 10 miles north of Huddersfield
Roads: M606, M62, M621, M1, A650, A6177
Rail: Bradford Interchange Rail, Bradford Foster Square Rail
Air: Leeds Bradford International Airport, Manchester Airport

Situation

The property is situated south-east of Bradford city centre, just off Tong Street (A650), and has strong connections to Bradford's ring road (A6177) and the M606 and M62. Netto and The Avenue Retail Park are located adjacent to the property, with occupiers including Superdrug, PoundStretcher, Iceland and Wynsors Shoes.

Tenure

Freehold.

Location

Miles: 7 miles west of Leeds, 10 miles north of Huddersfield
Roads: M606, M62, M621, M1, A650, A6177
Rail: Bradford Interchange Rail, Bradford Foster Square Rail
Air: Leeds Bradford International Airport, Manchester Airport

Situation

Tenure

Freehold.

Description

The property comprises a single storey bingo club on a site of approximately 0.625 hectares (1.545 acres) with site coverage of approximately 50 The property benefits from some 105 car parking spaces.

VAT

VAT is applicable to this lot.

EPC

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

Description

VAT

VAT is 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	Reviews
Ground	Bingo Hall	3,019 sq m	(32,469 sq ft)	GALA LEISURE LIMITED (1) (with a guarantee from Gala Group Finance plc)	25 years from 19/09/2005	£206,650	2.5% compound annual increases each year
Totals		3,019 sq m	(32,469 sq ft)			£206,650

(1) Gala Bingo and galabingo.co.uk are both part of the Gala Coral Group, Europe's leading gaming operator, with 143 clubs throughout the UK, 22 million admissions every year and a 40market share with over 5 million members and an established land based betting business in Italy. The Gala Coral Group is the only gambling company in the UK with significant businesses in the bookmaking, bingo and casino markets, both on the High Street and online. (Sources: www.galabingo.co.uk and www.galacoral.co.uk 09/11/2011). For the year end 25th September 2010 Gala Leisure Limited reported a turnover of £308,199,000, pre-tax profits of negative £33,748,000 and a net worth of £162,377,000. (Source: www.riskdisk.com 14/11/2011)