Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
Unit A
|
Ground
|
Motor Trade
|
|
(6,673.90 sq ft)
(3)
|
FORMULA ONE
AUTOCENTRES
LIMITED (1) |
20 years from 29/09/1998
to 2018 on a full repairing
and insuring lease |
£66,920
(3) |
29/09/2013 |
| Unit B |
Ground
Ground
Ground |
Retail
Covered
Car Park
Store
|
278.06 sq m
176.47 sq m
21.00 sq m |
(2,993 sq ft)
(1,899.5 sq ft)
(226 sq ft) |
MAJESTIC
WINE PLC (2) |
20 years from 18/08/1998
to 2018 on a full repairing
and insuring lease |
£35,145 |
18/08/2013
|
| Totals |
|
|
|
(11,792 sq ft) |
|
|
£102,065
|
|
(1) Formula One Autocentres Limited is a family owned company incorporated since 1979. The company is the largest independently-owned autocentre chain in the UK and currently operates from over 60 outlets nationwide. (www.F1autocentres.co.uk) For the year ending
31/07/2012, Formula One Autocentres Limited reported a turnover of £35,365,200, pre-tax profits of £1,594,639 and a total net worth of £2,684,190. (Source: www.riskdisk.com 27/03/2013)
(2) Majestic Wine currently operate from over 175 outlets nationwide and are seeking to expand to at least 330 outlets. (www.majestic.co.uk) For the year ending 02/04/2012, Majestic Wine plc reported a turnover of £280,304,000, pre-tax profits of £23,201,000 and a total net worth of £68,108,000. (Source: www.riskdisk.com 27/03/2013)
(3) As to Unit B, the 2008 rent review was determined by the arbitrator, who valued the retail accommodation at £13.25 per sq ft. The floor areas for Unit B stated above were agreed between the parties’ surveyors for the 2008 rent review. A copy of the Arbitrator’s report is available in the legal pack.
