Prominent corner location opposite The Kennet Shopping Centre with tenants including Pizza Express, TK Maxx, Nando’s and Caffè Nero
Other nearby occupiers include Vue Cinema, Bill’s, Ask and White Stuff
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 76
Auction 7th July 2016
Rent
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
19 miles west of Reading, 27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
The property is situated in a prominent corner position at the junction of Market Place and Bear Lane. Immediately opposite is The Kennet Shopping Centre, housing occupiers including Pizza
Express, Superdrug, Poundland and Caffè Nero. Other nearby occupiers include Marks & Spencer, Tesco Metro, Boots the Chemist, H&M, New Look, Bill’s and Ask Italian.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn ground rent.
Location
Miles
19 miles west of Reading, 27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
The property is situated in a prominent corner position at the junction of Market Place and Bear Lane. Immediately opposite is The Kennet Shopping Centre, housing occupiers including Pizza
Express, Superdrug, Poundland and Caffè Nero. Other nearby occupiers include Marks & Spencer, Tesco Metro, Boots the Chemist, H&M, New Look, Bill’s and Ask Italian.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn ground rent.
Description
The property comprises a ground floor betting office, forming part of a larger building. The tenant occupies the majority of the ground floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor betting office, forming part of a larger building. The tenant occupies the majority of the ground floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Review/(Reversion)
Ground
Betting Office/Ancillary
287.53 sq m
(3,095 sq ft)
LADBROKES BETTING & GAMING LIMITED (1)
10 years from 03/12/2012 on a full repairing and insuring lease
£75,000
03/12/2017 (02/12/2022)
Totals
287.53 sq m
(3,095 sq ft)
£75,000
NB. The Seller has served notice on the residential tenants on the upper floors, pursuant to Section 5B of the Landlord and Tenant Act 1987. (1) For the year ending 31st December 2014, Ladbrokes Betting & Gaming Limited reported a turnover of £824,322,000, pre-tax profits of £57,141,000 and a total net worth of £1,096,567,000 (Source: Experian Group 25/05/2016).