Tenancy & Accommodation
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review |
Ground Basement First Second
|
Retail (restricted access) Ancillary Ancillary
|
140.70 sq m – 56.10 sq m 46.80 sq m |
(1,514 sq ft) (–) (604 sq ft) (504 sq ft) |
BLACKS OUTDOOR RETAIL LIMITED t/a Millets (1)
|
10 years from 18/10/2016 until 17/10/2026 on a full repairing and insuring lease
|
£30,000 (2)
|
18/10/2021
|
Totals |
|
243.60 sq m |
(2,622 sq ft) |
|
|
£30,000 (2) |
|
(1) Blacks Outdoor Retail Limited is a subsidiary (and part of The Outdoor Division) of JD Sports Fashion Plc. It currently trades from
around 74 Blacks and 80 Millets stores in the UK. For the year ending 30th January 2016, Blacks Outdoor Retail Limited reported a turnover of £129,932,000, pre-tax profits of £-3,481,000, total current assets of £59,985,000 and a total net worth of £-43,120,000. For the year ending 30th January 2016, JD Sports Fashion Plc reported a turnover of £1,821,652,000, pre-tax profits of £131,631,000 and a total net worth of £308,809,000 (Sources: www.jdplc.com and www.millets.co.uk and Experian Group 15/02/2017).
(2) The lease provides for an 18 month rent free period from 18th October 2016. The seller has agreed to adjust the completion monies so that the property will effectively produce £30,000 from completion of the sale until the expiry of the rent free period in April 2018.