Freehold Betting Shop Investment in Town Centre Location
Let to Ladbrokes Betting & Gaming Limited on a 15 year lease expiring 2027
Prominent town centre location close to Metro station
Nearby occupiers include Barclays Bank, McDonald’s. William Hill, Greggs and Claire’s Accessories
Six Week Completion Available
Lot 41
Auction 18th October 2012
Rent £28,001 per Annum Exclusive
Status Sold Post
Price
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
Heart of South Shields town centre, 5 miles from Newcastle city centre
Roads
A185 Jarrow Rd (connects to A19 and Newcastle city centre), A1018 Sunderland Rd
Rail
South Shields Metro Station (direct to Newcastle and Sunderland Railway Stations)
Air
Newcastle International Airport
Situation
The property is situated on the pedestrianised Ocean Road at its junction with King Street, the prime retail pitch in the town. The property benefits from its proximity to the surrounding area’s residential population, the town’s leisure circuit and the prime retail pitch. There is extensive car parking available at the nearby Morrisons store. Other nearby occupiers include Barclays Bank, McDonald’s, William Hill, Greggs and Claire’s Accessories.
Tenure
Freehold.
Location
Miles
Heart of South Shields town centre, 5 miles from Newcastle city centre
Roads
A185 Jarrow Rd (connects to A19 and Newcastle city centre), A1018 Sunderland Rd
Rail
South Shields Metro Station (direct to Newcastle and Sunderland Railway Stations)
Air
Newcastle International Airport
Situation
The property is situated on the pedestrianised Ocean Road at its junction with King Street, the prime retail pitch in the town. The property benefits from its proximity to the surrounding area’s residential population, the town’s leisure circuit and the prime retail pitch. There is extensive car parking available at the nearby Morrisons store. Other nearby occupiers include Barclays Bank, McDonald’s, William Hill, Greggs and Claire’s Accessories.
Tenure
Freehold.
Description
The property comprises a substantial brick building arranged over basement, ground and two upper floors plus attic with prominent frontage onto Ocean Road and Mile End Road.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial brick building arranged over basement, ground and two upper floors plus attic with prominent frontage onto Ocean Road and Mile End Road.
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 & Basement
Betting Shop
102.66 sq m 95.13 sq m
(1,105 sq ft) (1,024 sq ft)
LADBROKES BETTING & GAMING LIMITED (1)
15 years from 27/06/2012 until 26/06/2027 (2)
£28,000
27/06/2017 and five yearly
First, Second and Attic
84.32 sq m 82.3 sq m
(908 sq ft) (886 sq ft)
ELB SECURITIES LTD
125 years from 21/09/2012 until 2137
£1
Totals
364.41 sq m
(3,923 sq ft)
£28,001
(1) For the year ending 31st December 2011, Ladbrokes Betting & Gaming Ltd reported a turnover of £694,138,000, pre-tax profits of £111,963,000 and a net worth of £885,620,000. (Source: www.riskdisk.com 19/09/2012) (2)There is a tenant option to determine the lease on the 10th anniversary of the term.
