Mecca Bingo Albemarle Crescent Scarborough YO11 1XS

Mecca Bingo
Albemarle Crescent
Scarborough
YO11 1XS

Freehold Leisure Investment

  • Entirely let to Mecca Bingo Limited until 2021
  • Town centre location close to Brunswick Shopping Centre
  • RPI linked Rent Review in 2016
  • Tenant’s option to extend lease
  • Approximately 2,925 sq m (31,473 sq ft)
  • Six Week Completion
  • Lot
    17
  • Auction
    13th February 2014
  • Rent
    £170,993 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,100,000
  • Sector
    Leisure
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
Important Update
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* More information on the term "guide" can be found here

Freehold Leisure Investment

  • Entirely let to Mecca Bingo Limited until 2021
  • Town centre location close to Brunswick Shopping Centre
  • RPI linked Rent Review in 2016
  • Tenant’s option to extend lease
  • Approximately 2,925 sq m (31,473 sq ft)
  • Six Week Completion
  • Lot 17
  • Auction 13th February 2014
  • Rent
  • Status Sold
  • Price £1,100,000
  • Sector
    Leisure
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
40 miles north-east of York, 48 miles south-east of Middlesbrough
Roads
A64, A170, A1/M1 (Junction 50)
Rail
Scarborough Rail Station
Air
Durham Tees Valley (44 miles)
Situation

The property is situated in Scarborough town centre on the eastern side of Albemarle Crescent, close to its junction with the pedestrianised Westborough, the town’s prime retailing thoroughfare. The property lies less than 50 metres from Brunswick Shopping Centre which houses retailers such as Debenhams, Greggs, Dorothy Perkins and Carphone Warehouse.

Tenure

Freehold.

Location
Miles
40 miles north-east of York, 48 miles south-east of Middlesbrough
Roads
A64, A170, A1/M1 (Junction 50)
Rail
Scarborough Rail Station
Air
Durham Tees Valley (44 miles)
Situation

The property is situated in Scarborough town centre on the eastern side of Albemarle Crescent, close to its junction with the pedestrianised Westborough, the town’s prime retailing thoroughfare. The property lies less than 50 metres from Brunswick Shopping Centre which houses retailers such as Debenhams, Greggs, Dorothy Perkins and Carphone Warehouse.

Tenure

Freehold.

Description

The property comprises a substantial building currently used as a bingo hall providing reception area, gaming hall, staff rooms and ancillary and office accommodation over ground, first and basement floors. The second floor is not used by the tenant.

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 substantial building currently used as a bingo hall providing reception area, gaming hall, staff rooms and ancillary and office accommodation over ground, first and basement floors. The second floor is not used by the tenant.

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 Review
Ground and First
Basement
Second
Leisure
Plant
Unused
2,542 sq m
383 sq m
Not measured
(27,352 sq ft)
(4,121 sq ft)
MECCA BINGO LIMITED (1) 15 years from 10/07/2006 until 28/09/2021 on a full repairing and insuring lease (2) (3) £170,993 29/09/2016 (4)
Totals  
2,925 sq m
(31,473 sq ft)
    £170,993  

(1) For the year ending 30th June 2012, Mecca Bingo Limited reported a turnover of £329,085,000, pre-tax profits of £90,101,000 and a total net worth of £469,538,000. (Source: www.riskdisk.com 17/01/2014) Mecca Bingo Limited are a subsidiary company of Rank Group Gaming Division Ltd. Formed in 1937, the Rank Group now operate 55 Grosvenor Casinos and 97 Mecca Bingo clubs in the UK, employing 11,000 people. (Source: www.rank.com 20/01/2014)
(2)The lease is subject to a schedule of condition.
(3)The lease provides a tenant’s option to extend the lease.
(4)The 2016 rent review is linked to the Retail Price Index (RPI) and shall not exceed £198,227.67 p.a.x.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.14
    File Size
    916 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.14
    File Size
    154 KB
    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

Associate AuctioneersTom Withey 020 7861 1583tom.withey@knightfrank.com
Seller's Solicitors
Wallace LLP 1 Portland Place
London
W1B 1PN
+44 (0)20 7636 3736
Jackie Boot +44 (0)20 7467 8722jackie.boot@wallace.co.uk

Useful Links

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

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