Tenancy & Accommodation
| Floor |
Use |
Floor Areas
Approx sq m |
Floor Areas
Approx sq ft |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
| Ground |
Warehouse |
948.00 |
(10,199) |
ROYAL MAIL GROUP LIMITED
(CRN 04138203)
(1) |
A term of years until 31/08/2025
with a 10 year lease extension
until 31/08/2035
(2) (3) |
£42,500
(3) |
01/09/2025
01/09/2030 |
| Total |
|
948.00 |
(10,199) |
|
|
£42,500 |
|
(1) Royal Mail Group is an international business that provides postal and delivery services across extensive networks. The Group employ 136,500 people, almost 49,000 delivery vehicles and 37 mail centres throughout the UK (Source: www.royalmailgroup.com). For the year to 28/03/2021 Royal Mail Group Limited recorded a turnover of £8,658,000,000, a pre tax profit of £320,000,000 and a net worth of £3,732,000,000 (Source: NorthRow 19/08/2022)
(2) The lease provides for a tenant option to determine the lease on 01/09/2030.
(3) The current rent reserved under the terms of the lease is £37,200 per annum exclusive, the lease provides the rent to increase to £42,500 p.a.x. on 01/09/2025, the Seller will pay to the Buyer the difference from completion of the sale until 01/09/2025. The lease provides for the tenant to pay half rent (£21,250) from commencement of the varied lease until 28/02/2026, the Seller will pay to the Buyer the difference to the headline rent at the point of sale. Please see the Legal Pack for further information.
