Tenancy & Accommodation
| Floor |
Use |
Floor Areas
Approx sq m (1) |
Floor Areas
(Approx sq ft) (1) |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
Ground
First |
Retail/Ancillary
Ancillary |
73.85
55.18 |
(795)
(594) |
T4 STRATFORD UPON AVON LTD
(t/a T4 Tea For U) (2) |
10 years from 03/04/2024 on full repairing and insuring lease |
£55,000 (3) |
03/04/2029 and 03/04/2034 |
| Total |
|
129.03 |
(1,389) |
|
|
£55,000 |
|
(1) Areas provided by VOA (www.gov.uk/find-business-rates)
(2) Tea For U is an authentically crafted Taiwanese and Bubble Tea shop, established in 2004. They are the biggest and most established premises-based Bubble Tea brand in the UK, and have stores in over 60 locations in the UK, including London, Bristol, Birmingham, Manchester, Bournemouth and Cambridge (www.t4.co.uk)
(3) Under the terms of the lease, the current passing rent is £40,000 p.a.x subject to a fixed rental increase on 03/06/2025 to £50,000 p.a.x., and on 03/06/2026 to £55,000 p.a.x. and then an open market upward only rent review on 03/04/2029. The Seller will pay to the Buyer the difference between the current rent reserved from completion of the sale until 03/06/2026, therefore the property will effectively produce £55,000 p.a.x. from completion of the sale - please see Special Conditions of Sale.
