Gala Bingo 1 Streetly Road, Stockland Green Birmingham B23 7BH

Gala Bingo
1 Streetly Road, Stockland Green
Birmingham
B23 7BH

Freehold Leisure Investment

  • Let to Gala Leisure Limited until 2039
  • Prominent corner location in a busy Birmingham suburb
  • Annual RPI linked rental increases subject to a minimum of 0% and maximum of 4%
  • Nearby occupiers include Lloyds Pharmacy, Kwik Fit and Ladbrokes
  • Approximate site area of 0.19 hectares (0.48 acres) with on-site parking
  • Producing £83,160 per annum exclusive with imminent rental uplift
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    9
  • Auction
    10th December 2015
  • Rent
    £83,160 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,270,000
  • Sector
    Leisure
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of M&G Real Estate
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Leisure Investment

  • Let to Gala Leisure Limited until 2039
  • Prominent corner location in a busy Birmingham suburb
  • Annual RPI linked rental increases subject to a minimum of 0% and maximum of 4%
  • Nearby occupiers include Lloyds Pharmacy, Kwik Fit and Ladbrokes
  • Approximate site area of 0.19 hectares (0.48 acres) with on-site parking
  • Producing £83,160 per annum exclusive with imminent rental uplift
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 9
  • Auction 10th December 2015
  • Rent
  • Status Sold
  • Price £1,270,000
  • Sector
    Leisure
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On behalf of M&G Real Estate

Property Information

Location
Miles
3.5 miles north-east of Birmingham
19 miles north-west of Coventry, 46 miles south-west of Nottingham
Roads
A4040, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation

Stockland Green is a busy and popular residential suburb of Birmingham situated some 3.5 miles north-east of Birmingham City Centre. The property is situated in a prominent and busy crossroad intersection, close to the A4040 on the eastern side of Streetly Road and at its junction with Marsh Lane (B4531). The A4040 provides direct access to the M6 which is some 1 mile away.

Tenure

Freehold.

Location
Miles
3.5 miles north-east of Birmingham
19 miles north-west of Coventry, 46 miles south-west of Nottingham
Roads
A4040, M6
Rail
Erdington Railway Station
Air
Birmingham City Airport
Situation

Stockland Green is a busy and popular residential suburb of Birmingham situated some 3.5 miles north-east of Birmingham City Centre. The property is situated in a prominent and busy crossroad intersection, close to the A4040 on the eastern side of Streetly Road and at its junction with Marsh Lane (B4531). The A4040 provides direct access to the M6 which is some 1 mile away.

Tenure

Freehold.

Description

The property comprises a former cinema, currently used as a bingo hall. The property benefits from a large site area of approximately 0.19 hectares (0.48 acres), with on-site parking.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a former cinema, currently used as a bingo hall. The property benefits from a large site area of approximately 0.19 hectares (0.48 acres), with on-site parking.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not 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
Mezzanine
First
Second
Bingo Hall
Ancillary
Bingo Hall
Plant Rooms
1,033.61 sq m
87.53 sq m
759.82 sq m
43.57 sq m
(11,126 sq ft)
(942 sq ft)
(8,179 sq ft)
(469 sq ft)
GALA LEISURE
LIMITED (1)
25 years from 19/12/2014 on a
full repairing and insuring lease
£83,160 19/12/2015
Annual rental increases
linked to RPI (2)
Totals
1,924.53 sq m
(20,715 sq ft)
    £83,160  

(1) For the year ending 27th September 2014, Gala Leisure Limited reported a turnover of £280,062,000, pre-tax profits of £78,983,000 and a total net worth of
£258,505,000. (Source: www.experian.co.uk 03/11/2015)
(2)The rent reviews are linked to the Retail Price Index subject to a minimum of 0% and maximum of 4% with the next review in December 2015.

Property Documents

  • Site Plan
    Updated Date
    17.11.15
    File Size
    74 KB
    View PDF
  • Catalogue Page
    Updated Date
    17.11.15
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Hogan Lovells International LLP Atlantic House, Holborn Viaduct
London
EC1A 2FG
Rosie Kent 0207 296 2000rosie.kent@hoganlovells.com

Useful Links

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

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now