Mecca Bingo 24 Manderston Street, Leith Edinburgh EH6 8LY

Mecca Bingo
24 Manderston Street, Leith
Edinburgh
EH6 8LY

Heritable Leisure Investment

  • Entirely let to Mecca Bingo Ltd until 2021
  • Located on Manderston Street, off Leith Walk (A900)
  • Substantial building of 3,912.90 sq m (42,119 sq ft)
  • Nearby occupiers include national retailers such as Ladbrokes, Subway and Greggs on Leith Road
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    66
  • Auction
    30th March 2017
  • Rent
    £149,848 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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* More information on the term "guide" can be found here

Heritable Leisure Investment

  • Entirely let to Mecca Bingo Ltd until 2021
  • Located on Manderston Street, off Leith Walk (A900)
  • Substantial building of 3,912.90 sq m (42,119 sq ft)
  • Nearby occupiers include national retailers such as Ladbrokes, Subway and Greggs on Leith Road
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 66
  • Auction 30th March 2017
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
1.3 miles north-east of Edinburgh city centre, 47 miles east of Glasgow, 35 miles north of Galashiels
Roads
A199, A902, A1, M8 (Junction 1)
Rail
Edinburgh Train Station (2 miles)
Air
Edinburgh Airport (8.3 miles)
Situation

The property is located in Leith, a district to the north of the city of Edinburgh. The building is located on Manderston Street, off Leith Walk (A900), a busy thoroughfare which connects the city centre to the waterfront and docks. The area is in a predominantly residential and industrial area with a number of motor trade businesses operating from the same terrace. Other nearby occupiers on Leith Walk include Ladbrokes, William Hill, Cashino Gaming, Scotmid Co-operative, Pizza Hut, Subway and Greggs.

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Location
Miles
1.3 miles north-east of Edinburgh city centre, 47 miles east of Glasgow, 35 miles north of Galashiels
Roads
A199, A902, A1, M8 (Junction 1)
Rail
Edinburgh Train Station (2 miles)
Air
Edinburgh Airport (8.3 miles)
Situation

The property is located in Leith, a district to the north of the city of Edinburgh. The building is located on Manderston Street, off Leith Walk (A900), a busy thoroughfare which connects the city centre to the waterfront and docks. The area is in a predominantly residential and industrial area with a number of motor trade businesses operating from the same terrace. Other nearby occupiers on Leith Walk include Ladbrokes, William Hill, Cashino Gaming, Scotmid Co-operative, Pizza Hut, Subway and Greggs.

Tenure

Heritable. (Scottish Equivalent of English Freehold) .

Description

The property comprises a substantial former theatre building. The property is currently used as a bingo hall providing a foyer area, gaming hall, storage and ancillary and office accommodation over basement, ground and two upper levels. The property benefits from a site area of approximately 0.295 hectares (0.73 acres).

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 substantial former theatre building. The property is currently used as a bingo hall providing a foyer area, gaming hall, storage and ancillary and office accommodation over basement, ground and two upper levels. The property benefits from a site area of approximately 0.295 hectares (0.73 acres).

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 Reviews
Foyer & Basement
Ground
Circle
Upper Circle
Bingo
Hall/
Ancillary
763.26 sq m
1,512.65 sq m
1,162.29 sq m
474.70 sq m
(8,216 sq ft)
(16,282 sq ft)
(12,511 sq ft)
(5,110 sq ft)
MECCA BINGO
LTD (1)

Approximately 15 years from
10/07/2006 on a full
repairing and
insuring lease (2)
£149,848
28/09/2021
(3)
Total  
3,912.90 sq m
(42,119 sq ft)
    £149,848
 

(1) For the year ending 30 June 2016, Mecca Bingo Limited reported a turnover of £209,543,000, pre-tax profits of £36,665,000 and a total net worth of £488,346,000 (Source: Experian Group: 03/03/2017). Mecca Bingo is part of the Rank Group. Formed in 1937, the Rank Group, which also runs Grosvenor Casinos, operates 87 Mecca bingo venues in the UK (Source: Rank Group).
(2) The lease is subject to a Schedule of Condition.
(3) The lease provides a tenant’s option to extend the lease.

Property Documents

  • Catalogue Page
    Updated Date
    12.11.19
    File Size
    2 MB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Mhairi ArchibaldMhairi Archibald +44 (0)7718 899 341 Mhairi.archibald@acuitus.co.uk
Seller's Solicitors
Brodies LLP Brodies LLP, 15 Atholl Crescent
Edinburgh
EH3 8HA
Laurence W Douglas 0131 656 0140laurence.douglas@brodies.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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