Tenancy & Accommodation
| Use |
Floor Areas
Approx sq m |
Floor Areas
Approx sq ft |
Tenant |
Term |
Rent p.a.x. |
Rent Reviews (Reversion) |
| Supermarket and Car Park |
1,701.70 (4) |
18,317 (4) |
ALDI STORES LIMITED (CRN:02321869) (1) |
125 years from 07/08/2015 until 2140 (2) |
£86,322 (3) |
07/08/2025 and 5 yearly (3)
(06/08/2140) |
| Total Approximate Floor Area |
1,701.70 (4) |
18,317 (4) |
|
|
£86,322 (3) |
|
(1) For the year ending 31st December 2020 Aldi Stores Limited (CRN:02321869) reported a Turnover of £17,887,909,000., Pre Tax Profits of £536,720,000., and Net Assets of £3,295,069,000.. (Source: Group Strategic Report, Directors Report and Consolidates Financial Statements as published at Companies House).
(2)The lease provides for a Tenant Option to Determine the lease on the 7th August 2035 and every 5th year thereafter subject to serving 12 months written notice. In the event that the tenant determines the lease the Freehold has a right to retain the building and benefit directly from the occupational rent.
(3) The lease provides for the rent to be reviewed every 5th year linked to the Retail Price Index annually compounded, but subject to a minimum increase of 1% per annum and a maximum of 2.5% per annum as detailed in Schedule 3 of the lease. Using the RPI index for January 2025, the rent will rise to a minimum of £86,322.91 p.a.x in August 2025.
The Seller will pay the Buyer the difference between the current rent reserved of £77,430 per annum exclusive and £86,322.91 per annum exclusive from completion of the sale until 7th August 2025. Therefore the property will produce a minimum of £86,322.91 per annum exclusive form completion of the sale.
(4) The floor areas stated above are those published by the Valuation Office Agency (https://www.tax.service.gov.uk/business-rates-find/valuations/start/10260798000)
