Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reversion |
| Ground |
Retail/Ancillary |
213.39 sq m |
(2,297 sq ft) |
DAY LEWIS PLC (1)
on assignment from
Boots UK Limited
(2) |
15 years and 4
months from
25/03/2005
on a full repairing
and insuring lease |
£33,979.16
(3) |
24/07/2020 |
Total
|
213.39 sq m |
(2,297 sq ft) |
|
|
£33,979.16
(3) |
|
(1) The Day Lewis Group is an award winning family business, consisting of one of the largest independent pharmacy chains in the UK and Europe. Day Lewis employs over 2,500 people, owning and managing over 300 pharmacies in the UK today, with the management rights to the pharmacy concession in Harrods (Source: www.daylewis.co.uk 18/01/2018).
(2) Boots UK Limited remain liable by way of an Authorised Guarantee Agreement. For the year ending 31 August 2016, Boots UK Limited reported a turnover of £6,876,000,000, pre-tax profits of £523,000,000 and a total net worth of £1,204,000,000 (Source: Experian Group 17/01/2018). Boots is the UK’s leading pharmacy-led health and beauty retailer. With around 2,500 stores in the UK, ranging from local community pharmacies to large destination health and beauty stores. Boots UK is part of the Retail Pharmacy International Division of Walgreens Boots Alliance, Inc, the first global pharmacy-led health and wellbeing enterprise (Source: www.boots-uk.com 17/01/2018).
(3) The lease provides for 1.5% annual fixed rental increases. The rent will therefore increase to £33,979.16 p.a.x on 01/04/2018 and £34,488.84 p.a.x in April 2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £33,979.16 p.a.x. from completion of the sale.
