Entirely let to Ladbrokes Betting and Gaming Limited
Lease expires November 2025 (No breaks)
Approximately 6,672 sq ft, including significant upper parts with separate access
Possible conversion of the upper parts to Residential (subject to lease and consents)
Prominent City Centre location opposite Caffè Nero and Costa and close to Barclays, B&M Bargains, Poundland and Waterstones
Period building in historic Cathedral City
Lot 37
Auction 13th July 2017
Rent £60,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
9 miles west of Cheltenham, 20 miles north-west of Cirencester, 6 miles north of Bristol
Roads
A38, A40, M5 (Junction 11a)
Rail
Gloucester Railway Station
Air
Bristol Airport
Situation
The property is situated on the northern side of the pedestrianised section of Southgate Street, close to its junctions with Westgate, Northgate and Eastgate Street, in the heart of the City Centre. The Eastgate Shopping Centre is less than 50 metres away, with retailers including Marks & Spencer, H&M and JD Sports. Other nearby occupiers include Costa, Caffè Nero, Tesco Express, B&M Bargains, Sports Direct and branches of Halifax, RBS, Santander,
HSBC and Barclays banks.
Tenure
Freehold.
Location
Miles
9 miles west of Cheltenham, 20 miles north-west of Cirencester, 6 miles north of Bristol
Roads
A38, A40, M5 (Junction 11a)
Rail
Gloucester Railway Station
Air
Bristol Airport
Situation
The property is situated on the northern side of the pedestrianised section of Southgate Street, close to its junctions with Westgate, Northgate and Eastgate Street, in the heart of the City Centre. The Eastgate Shopping Centre is less than 50 metres away, with retailers including Marks & Spencer, H&M and JD Sports. Other nearby occupiers include Costa, Caffè Nero, Tesco Express, B&M Bargains, Sports Direct and branches of Halifax, RBS, Santander,
HSBC and Barclays banks.
Tenure
Freehold.
Description
The property comprises a ground floor betting shop with separately accessed office accommodation on the first floor. In addition, the property comprises another shop on the ground floor (sublet) and further separately accessed ancillary accommodation on the basement, second and third 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 ground floor betting shop with separately accessed office accommodation on the first floor. In addition, the property comprises another shop on the ground floor (sublet) and further separately accessed ancillary accommodation on the basement, second and third 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.
15 years from 02/11/2010 until 01/11/2025 on a full repairing and insuring lease (2)
£60,000
02/11/2020
Totals
619.97 sq m
(6,672 sq ft)
£60,000
(1) For the year ending 31st December 2015, Ladbrokes Betting & Gaming Limited reported a turnover of £830,679,000, pre-tax profits of £49,866,000 and a total net worth of £1,191,903,000 (Source: Experian Group 24/05/2017). Part of the property has been sublet to a tenant trading as London Camera Exchange at a sublet rent of £11,000 per annum. (2) The lease is subject to a Schedule of Condition.
