Heritable (Scottish Equivalent of English Freehold) Retail Investment
Let to Ganton House Investments Ltd, a subsidiary of Ladbrokes Betting & Gaming Ltd (t/a Ladbrokes)
Popular town on the edge of Edinburgh city centre
Nearby occupiers include Boots the Chemist, Greggs, Pizza Hut and William Hill
Lot 17
Auction 8th July 2010
Rent £17,500 per Annum
Status Sold
Price £165,000
Sector Leisure
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Estimated District Population
475,000 (Edinburgh city centre)Miles:4 miles east of Edinburgh city centre
A1, A7 (City By-pass)
Rail
Haymarket Train Station, Waverly Train Station
Air
Edinburgh Airport (11 miles)
Situation
The property is situated in a prominent position on Portobello High Street. Portobello High Street is an established retailing parade that is well represented by both local and national traders. Neighbouring occupiers include Boots the Chemist, Greggs, Pizza Hut and William Hill.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Location
Estimated District Population
475,000 (Edinburgh city centre)Miles:4 miles east of Edinburgh city centre
A1, A7 (City By-pass)
Rail
Haymarket Train Station, Waverly Train Station
Air
Edinburgh Airport (11 miles)
Situation
The property is situated in a prominent position on Portobello High Street. Portobello High Street is an established retailing parade that is well represented by both local and national traders. Neighbouring occupiers include Boots the Chemist, Greggs, Pizza Hut and William Hill.
Tenure
Heritable. (Scottish Equivalent of English Freehold)
Description
The subject property comprises a GROUND FLOOR RETAIL UNIT with ANCILLARY AND STAFF ACCOMMODATION to the rear of the property.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The subject property comprises a GROUND FLOOR RETAIL UNIT with ANCILLARY AND STAFF ACCOMMODATION to the rear of the property.
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
Sales/Staff
132.63 sq m
(1,427 sq ft)
GANTON HOUSE INVESTMENTS LTD (subsidiary of Ladbrokes Betting & Gaming Ltd) (1)
18 years from 06/11/1996 on a full repairing and insuring lease
£17,500 (2)
05/11/2014 (3)
Totals
132.63 sq m
(1,427 sq ft)
£17,500
(1)Ganton House Investments Ltd is a subsidiary of Ladbrokes Betting & Gaming Ltd. Ladbrokes plc employs 15,000 people in six countries and is one of the world's leading betting and gaming enterprises. Ladbrokes plc is listed on the London Stock Exchange with a market capitalisation of over 1,209m. (Source: www.ladbrokesplc.com). For the year ending 31st December 2008, Ganton House Investments Ltd reported a turnover of 26,930,000, pre-tax profits of 4,402,000 and a net worth of 8,940,000. (Source: www.riskdisk.com 14/06/2010) (2)The quoted rental level has recently been agreed at the 2009 review, however, this has still to be documented by the tenant/landlord. Previous rent was 15,500 per annum excluding VAT. (3)The tenant has agreed to extend for a further 5 years at the end of the lease with a further review on 6th November 2014. The tenant will have an option to determine the lease at the expiry date in 2014 on giving the landlord 6 months' notice. This has been agreed but not yet documented.
