Tenancy & Accommodation
| Address |
Floor |
Use |
Floor Areas
Approx sq m |
Floor Areas
Approx sq ft |
Tenant |
Term |
Rent p.a.x. |
| 4/5 Pydar Street |
Ground
First |
Retail
Ancillary |
140.70
131.30 |
(1,514)
(1,413) |
ESQUIRE RETAIL LTD
t/a Clinton Cards
(1) |
5 years from 25/04/2023
(4) |
£55,000
(3) |
| 6 Pydar Street |
Ground
First |
Retail
Ancillary |
113.80
97.50 |
(1,224)
(1,049) |
HUTCHINSON 3G UK LTD
t/a Three
(2)(5) |
10 years from 07/02/2014 |
£85,000 |
| Total |
|
|
381.30 |
(5,200)
(4) |
|
|
£140,000 |
(1) Clinton Cards are a national card and gift retailer established in 1968 trading from over 220 stores across the UK. (www.clintonsretail.com).
(2) For the year ending 31/12/2021, Hutchinson 3G UK Ltd reported a Turnover of £2,311,396,000, a Pre-Tax Profit of £1,205,054,000 and a Net Worth of £4,368,894,000 (NorthRow 12/10/2023).
(3) The current rent reserved under the terms of the lease is £27,500 per annum exclusive. The lease provides for a fixed rental increase on 25/12/2023 to £55,000 p.a.x. The Seller will top up the rent from completion of the sale until 25/12/2023. Therefore this unit will produce £55,000 p.a.x. from completion of the sale.
(4) The lease provides for a tenant option to determine the lease on 24/04/2026 subject to serving six months written notice.
(5) Section 26 Notice under the Landlord and Tenant Act 1954 has been served by the tenant showing intent to renew their lease with further details available in the legal pack.
