Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
70 Week Street –
Ground |
Retail |
42.36 sq m
|
(456 sq ft)
|
WILLIAM HILL
ORGANIZATION LIMITED (1)
|
15 years from 13/02/2008
|
£60,000 (2) |
25/12/2010 and
7 yearly
|
68-70 Week Street –
Basement
Ground
First
Second |
Retail/Ancillary
Retail
Retail
Retail/Office/Ancillary |
338.91 sq m
241.83 sq m
321.63 sq m
354.60 sq m |
(3,648 sq ft)
(2,603 sq ft)
(3,462 sq ft)
(3,817 sq ft) |
SOFT FURNISHINGS
LIMITED |
2 years from 19/04/2011 (3) |
£54,000 (4) |
|
| Totals |
|
1,299.33 sq m |
(13,986 sq ft) |
|
|
£114,000 |
|
(1) William Hill is the UK's leading bookmaker. They have been listed on the London Stock Exchange (WMH.L) since 2002 and employ over 16,900 people. (Source: www.williamhillplc.com)
(2) The tenant is currently paying a rent of £56,000 p.a. until 12th August 2013. The rent is subject to a fixed increase to £60,000 from 13th August 2013. The seller has agreed to adjust the completion monies so that the property will effectively produce £60,000 per annum exclusive from completion of the sale.
(3) There is a mutual rolling option to determine, on providing no less than 1 month's written notice. The tenant is not permitted to action their break option in the first 3 months of the lease.
(4) The tenant is currently paying a rent of £42,000 p.a. (inclusive of insurance and service charge) until 1st October 2011 when the rent will be increased to £54,000 p.a until 31st December 2011. From the 1st January 2012 until 30th September 2012, the tenant will pay the concessionary rent of £42,000 p.a. which will then increase on 1st October 2012 to £54,000 p.a. until 31st December 2012. From the 1st January 2013 until the expiry of the term, the tenant will pay £42,000 p.a. The seller has agreed to adjust the completion monies so that the property will effectively produce £54,000 per annum exclusive from completion of the sale.
