Let to Busy Bees Day Nurseries Limited until 2025 (no breaks)
Comprises 572.64 sq m (6,164 sq ft)
RPI linked rental increases throughout lease
Located within Loddon Vale Neighbourhood Centre
Free public car park located immediately to the rear
Lot 56
Auction 23rd October 2014
Rent £133,018 per Annum Exclusive
Status Sold
Price £1,420,000
Sector Office
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4 miles east of Reading
28 miles south-east of Oxford
36 miles west of Central London
Roads
A3290, A329(M), M4 (Junction 10)
Rail
Earley Railway Station
Air
London Heathrow Airport
Situation
Woodley is a suburb of Reading, located four miles east of the town centre. The property is situated on a prominent corner position on the north side of Hurricane Way, within Loddon Vale Neighbourhood Centre in a mixed residential and commercial area. Loddon Vale houses occupiers including Tesco Express, Pizza Hut, Core Motivation Fitness, a doctors surgery and a number of local traders.
Tenure
Freehold.
Location
Miles
4 miles east of Reading
28 miles south-east of Oxford
36 miles west of Central London
Roads
A3290, A329(M), M4 (Junction 10)
Rail
Earley Railway Station
Air
London Heathrow Airport
Situation
Woodley is a suburb of Reading, located four miles east of the town centre. The property is situated on a prominent corner position on the north side of Hurricane Way, within Loddon Vale Neighbourhood Centre in a mixed residential and commercial area. Loddon Vale houses occupiers including Tesco Express, Pizza Hut, Core Motivation Fitness, a doctors surgery and a number of local traders.
Tenure
Freehold.
Description
The property comprises a modern purpose built single storey children’s nursery, with an outside play area. The property benefits from a substantial free public car park located immediately to the rear.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern purpose built single storey children’s nursery, with an outside play area. The property benefits from a substantial free public car park located immediately to the rear.
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
Children’s Nursery
572.64 sq m
(6,164 sq ft)
BUSY BEES DAY NURSERIES LIMITED (1)
25 years from 08/05/2000 until 2025 on a full repairing and insuring lease
£133,018.34
08/05/2015 & 5 yearly (2)
Totals
572.64 sq m
(6,164 sq ft)
£133,018.34
(1) Established in 1983, Busy Bees is the UK’s largest childcare nursery provider, with 239 children’s nurseries nationwide. (Source: www.busybeeschildcare.co.uk 16/09/2014). For the year ending 31/12/2013, Busy Bees Day Nurseries Limited reported a turnover of £29,740,188 and pre-tax profits of £6,663,185. (Source: www.riskdisk.co.uk 16/09/2014). In 2013, Busy Bees were acquired by the Ontario Teachers Pension Plan, the Canadian Pension Fund that owns the UK National Lottery operator, for an estimated £220,000,000. (Source: www.telegraph.co.uk 16/09/2014) (2)The lease provides for upward only rent reviews to the greater of the Retail Price Index (RPI) or Open Market Rental Value, please see lease within the legal pack for further details.
