Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review |
Ground
and First |
Warehouse
and Leisure |
6,943.33 sq m |
(74,738 sq ft) |
CHESTERWOOD TRADING LIMITED t/a Rotherham Football Centre (1) |
10 years from 25/10/2013 until 2023 on a full repairing and insuring lease (2) |
£56,053.50 |
25/10/2018 (3) (4) |
| Totals |
6,943.33 sq m |
(74,738 sq ft) |
|
|
£56,053.50 |
(1) The Rotherham Football Centre is set up as a not for profit organisation aimed at providing indoor sports facilities all year round for the community and
schools. (Source: www.sheffieldjuniorfootball.co.uk/rotherham-football-centre)
(2) The lease provides for a tenant option to determine on 25th October 2018 on providing 1 years prior written notice and the lease is subject to a schedule of condition.
(3)The current rent reserved under the terms of the lease is £56,053.50 per annum exclusive. The lease provides for the following fixed increases in rent:
Year 2 to £59,790.40 pax; Year 3 to £65,022 pax and year 4 to £74,738. The lease provides for the following rent concessions in favour of the tenant: 6 months half rent from 25/04/2014 to 24/10/2014; 6 months rent free from 25/10/2014 to 24/04/2015; 3 months rent free from 25/10/2015 to 24/01/2016; 6 months rent free from 25/10/2018 to 24/04/2019 if the tenant does not exercise their option to determine the lease on 25/10/2018. The tenant is also benefiting from paying a rent concession of £14,013.38 pax from 25/04/2014 to 25/10/2014 as a result of the tenant carrying out works to a flat roof at the property. The seller will pay the buyer the rent that would have been due to the seller in the absence of the rent free periods from 25/10/2014 to 24/04/2015 and 25/10/2015 to 24/01/2016 and in the absence of the rent concession in lieu of the tenant’s work to the flat roof, on completion of the sale.
(4)The lease provides for an open market rent review on 25/10/2018.
