Mecca Bingo
Garrick Parade, Lord Street
Southport
Merseyside
PR9 0QG

Substantial Town Centre Leisure Investment

  • Entirely let to Mecca Bingo Limited - a part of The Rank Group
  • Approximately 47,734 sq ft with car parking
  • Site area of approximately 0.9 acres
  • Option to renew the lease
  • Strategic town centre location adjacent to large Morrisons supermarket and Travelodge hotel
  • Recent tenant break option not activated
  • Potential for alternative uses (subject to existing lease, planning and consents)
  • Lot
    31
  • Auction
    07/Dec/2017
  • Rent
    £195,778 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,700,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Property Update
  • Mecca Bingo<br>Garrick Parade, Lord Street<br>Southport<br>Merseyside<br>PR9 0QG
  • Expand
  • Photos
  • Map

Property Information

Location
Miles
16 miles north of Liverpool, 34 miles north-west of Manchester
Roads
A565, A570, M6, M58
Rail
Southport Railway Station
Air
Liverpool John Lennon Airport
Situation

The property is situated on the north side of Garrick Parade which runs parallel to Lord Street, one of Southport's principal retailing thoroughfares. Nearby occupiers include a large Morrisons supermarket, B&M Bargains, Travelodge and JD Wetherspoon, with other occupiers on Lord Street including Pizza Express, Next, Caffè Nero and Costa.

Tenure

Freehold. Majority Freehold - The car park to the rear of the property, which comprises circa 50 spaces, is held leasehold from Safeway Stores Limited on a lease expiring 27th August 2096 at a peppercorn rent.

Description

The property comprises a Grade II listed bingo hall arranged on ground, mezzanine, circle and upper circle floors with basement ancillary accommodation. There is a car park with circa 50 spaces to the rear. The property benefits from a site area of 0.9 acres.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorFloor Areas
(Approx)(GIA)
TenantTermRent p.a.xReversion
Ground
Basement
Mezzanine
Box Mezzanine
Circle
Upper Circle
Car Park
(circa 50 spaces)
1,990.81 sq m
242.18 sq m
175.73 sq m
112.11 sq m
1,100.86 sq m
812.85 sq m
-
(21,429 sq ft)
(2,607 sq ft)
(1,892 sq ft)
(1,207 sq ft)
(11,850 sq ft)
(8,749 sq ft)
(-)
MECCA BINGO
LIMITED (1)
Approximately
15 years from
10/08/2006 on a full
repairing and insuring
lease (2)
£195,77828/09/2021
Totals
4,434.54 sq m
(47,734 sq ft)
  £195,778 

(1) For the year ending 30th June 2016, Mecca Bingo Limited reported a turnover of £209,543,000, pre-tax profits of £36,665,000 and a total net worth of £488,346,000 (Source: Experian Group 31/10/2017). Mecca Bingo are part of The Rank Group who have been entertaining Britain since 1937 under the Mecca & Grosvenor Casino brands (Source: www.rank.com 31/10/2017). Part of the property has been sublet.
(2) The lease is full repairing and insuring, subject to a Schedule of Condition.

NB: Please note that the tenant has an option to renew the lease on the expiry of the current lease and the term can be renewed for 5, 10 or 15 years at the tenant’s option.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    28.11.17
    File Size
    39 MB
    Login to View
  • Site Plan
    Updated Date
    14.11.17
    File Size
    380 KB
    View JPG
  • Catalogue Page
    Updated Date
    14.11.17
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
Lewis & Partners 15-19 Cavendish Place
London
W1G OQE
Stephen Raingold 020 7580 4333stephenraingold@lewisandpartners.com
Seller's Solicitors
Hamlins LLP Roxburghe House, 273-287 Regent Street
London
W1B 2AD
John Leasure +44 (0) 20 7355 6073jleasure@hamlins.co.uk

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
Availability of finance is of utmost importance to many of our clients
How can Acuitus Finance help you?Finance