Gala Bingo 52 Berrington Street Hereford Herefordshire HR4 0BJ

Gala Bingo
52 Berrington Street
Hereford
Herefordshire
HR4 0BJ

Freehold Leisure Investment with Potential

  • Let to Gala Leisure Limited until 2020
  • Development potential (subject to consents)
  • Located within popular cathedral city
  • Site area of approximately 0.332 acres (0.134 hectares)
  • Lot
    63
  • Auction
    7th December 2017
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £410,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Gala Leisure
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Leisure Investment with Potential

  • Let to Gala Leisure Limited until 2020
  • Development potential (subject to consents)
  • Located within popular cathedral city
  • Site area of approximately 0.332 acres (0.134 hectares)
  • Lot 63
  • Auction 7th December 2017
  • Rent
  • Status Sold
  • Price £410,000
  • Sector
    Leisure
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On Behalf of Gala Leisure

Property Information

Location
Miles
25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads
A49, A438, M5, M50
Rail
Hereford Railway Station
Air
Birmingham Airport
Situation

Hereford is a a popular cathedral city in the West Midlands. The property is situated on Berrington Street, just off the main retailing pitch. Nearby occupiers include Crunch Fitness, Berrington Street NCP car park and Job Centre Plus. Adjacent to the property is the Packer House development, comprising office and retail accommodation.

Tenure

Freehold.

Location
Miles
25 miles south-west of Worcester, 65 miles south-west of Birmingham
Roads
A49, A438, M5, M50
Rail
Hereford Railway Station
Air
Birmingham Airport
Situation

Hereford is a a popular cathedral city in the West Midlands. The property is situated on Berrington Street, just off the main retailing pitch. Nearby occupiers include Crunch Fitness, Berrington Street NCP car park and Job Centre Plus. Adjacent to the property is the Packer House development, comprising office and retail accommodation.

Tenure

Freehold.

Description

The property comprises a bingo hall currently arranged to provide leisure accommodation on ground and first floors. The property benefits from a site area of 0.332 acres (0.134 hectares).

VAT

VAT is not applicable to this lot.

Completion Period

Five Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a bingo hall currently arranged to provide leisure accommodation on ground and first floors. The property benefits from a site area of 0.332 acres (0.134 hectares).

VAT

VAT is not applicable to this lot.

Completion Period

Five Week Completion

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 Reversion
Ground
First
Bingo Hall
966.19 sq m
369.10 sq m
(10,400 sq ft)
(3,973 sq ft)
GALA LEISURE
LIMITED (1)
2 years from
completion of the
sale on a full
repairing and
insuring lease (2)
£50,000 January 2020
Totals
1,335.29 sq m
(14,373 sq ft)
    £50,000  

(1) For over twenty years, Gala Bingo has been the UK’s most loved and trusted bingo operator, a household name in the gaming industry with over 143 clubs, 5 million members and paying out prizes across retail and online of over £42 million per week (Source:galabingo.com 13/11/2017). For the year ending 14th January 2017, Gala Leisure Limited reported a turnover of £360,710,000, a pre-tax loss of £19,031,000 and a total net worth of £222,896,000 (Source: Experian Group 13/11/2017.)
(2) The lease is subject to a schedule of condition. The lease provides a rolling landlord only option to determine subject to 3 months’ notice.

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    499 KB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    2 MB
    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

Seller's Solicitors
Eversheds Sutherland 115 Colmore Row
Birmingham
B3 3AL
Karine Kirlew +44 (0)121 232 1253karinekirlew@eversheds-sutherland.com

Useful Links

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

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