18 Crescent Street Weymouth Dorset DT4 7BX

18 Crescent Street
Weymouth
Dorset
DT4 7BX

Freehold Leisure Investment

  • Let to Gala Leisure Limited until 2039 (no breaks)
  • Annual RPI linked rental increases subject to a minimum of 1% and a maximum of 4%
  • Popular Dorset tourist destination
  • Close to the Jubilee Retail Park which houses retailers including Halfords, B&Q, Sports Direct, McDonald’s and KFC
  • Future residential redevelopment potential (subject to lease and consents)
  • Lot
    13
  • Auction
    13th July 2017
  • Rent
    £72,556 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,125,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of M&G Real Estate
  • Expand
  • Photos
  • Map

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

Freehold Leisure Investment

  • Let to Gala Leisure Limited until 2039 (no breaks)
  • Annual RPI linked rental increases subject to a minimum of 1% and a maximum of 4%
  • Popular Dorset tourist destination
  • Close to the Jubilee Retail Park which houses retailers including Halfords, B&Q, Sports Direct, McDonald’s and KFC
  • Future residential redevelopment potential (subject to lease and consents)
  • Lot 13
  • Auction 13th July 2017
  • Rent
  • Status Sold
  • Price £1,125,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the instructions of M&G Real Estate

Property Information

Location
Miles
25 miles south-west of Poole, 55 miles east of Exeter
Roads
A354, A35, A37
Rail
Weymouth Railway Station
Air
Bournemouth International Airport
Situation

Weymouth is a busy Dorset tourist destination, popular for its marina and attractive coastline. The property is situated on the west side of Crescent Street in the heart of the town centre, close to the railway station, marina and Jubilee Retail Park which houses retailers including Halfords, B&Q, Sports Direct, McDonald’s and KFC.

Tenure

Freehold.

Location
Miles
25 miles south-west of Poole, 55 miles east of Exeter
Roads
A354, A35, A37
Rail
Weymouth Railway Station
Air
Bournemouth International Airport
Situation

Weymouth is a busy Dorset tourist destination, popular for its marina and attractive coastline. The property is situated on the west side of Crescent Street in the heart of the town centre, close to the railway station, marina and Jubilee Retail Park which houses retailers including Halfords, B&Q, Sports Direct, McDonald’s and KFC.

Tenure

Freehold.

Description

The property comprises a substantial bingo hall arranged over ground and first floors.

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 bingo hall arranged over ground and first floors.

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
Ground &
First
Bingo Hall/
Ancillary
910.52 sq m
(9,801 sq ft)
GALA LEISURE
LIMITED (1)
25 years from
19/12/2014 until
18/12/2039 on a full
repairing and insuring
lease
£72,556.22 19/12/2017 -
Annual rental
increases
linked to RPI
(2)
Total
910.52 sq m
(9,801 sq ft)
    £72,556.22  

(1) For over twenty years, Gala Bingo has been the UK's most loved and trusted bingo operator, a household name in the gaming industry with over 143 clubs, 5 million members and paying out prizes across retail and online of over £42 million per week. For the year ending 26th September 2015, Gala Leisure Limited reported a turnover of £284,674,000, a pre-tax loss of £1,933,000 and a total net worth of £260,170,000 (Source: Experian Group 15/06/2017).
(2) The annual rent reviews are linked to the Retail Price Index, subject to a minimum of 1% and a maximum of 4%, with the next review in December 2017.

Property Documents

  • Site Plan
    Updated Date
    29.10.19
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    29.10.19
    File Size
    2 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
Peter CunliffePeter Cunliffe +44 (0)20 7034 4850peter.cunliffe@acuitus.co.uk
Seller's Solicitors
Hogan Lovells International LLP Atlantic House Holborn Viaduct
London
EC1A 2FG
Adam Balfour 020 7296 5489adam.balfour@hoganlovells.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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