Let to Ladbrokes Betting & Gaming Limited (sublet to The Corn Exchange (Newbury) Trust at £78,333 p.a.)
Prominent corner location opposite The Kennet Shopping Centre with tenants including Pizza Express, Nando’s and Caffè Nero
Other nearby occupiers include Vue Cinema, Bill’s, Ask and White Stuff
VAT-free Investment
Lot 32
Auction 28th March 2018
Rent £75,000 per Annum
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles west of Reading, 27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
The property is situated in a prominent corner position at the junction of the part pedestrianised Market Place and Bear Lane. Immediately opposite is The Kennet Shopping Centre, housing occupiers including Pizza Express, Superdrug, Poundland and Caffè Nero. Other nearby occupiers include Ask Italian, White Stuff and Bill’s Restaurant, with Boots the Chemist, Marks & Spencer, Superdrug and WHSmith also represented within the town. Newbury Central Car Park is a short walk away with car parking for over 50 cars.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn ground rent.
Location
Miles
19 miles west of Reading, 27 miles south of Oxford
Roads
A4, A39, A339, M4 (Junction 13)
Rail
Newbury Railway Station
Air
Heathrow Airport
Situation
The property is situated in a prominent corner position at the junction of the part pedestrianised Market Place and Bear Lane. Immediately opposite is The Kennet Shopping Centre, housing occupiers including Pizza Express, Superdrug, Poundland and Caffè Nero. Other nearby occupiers include Ask Italian, White Stuff and Bill’s Restaurant, with Boots the Chemist, Marks & Spencer, Superdrug and WHSmith also represented within the town. Newbury Central Car Park is a short walk away with car parking for over 50 cars.
Tenure
Virtual Freehold. To be held for a term of 999 years from completion at a peppercorn ground rent.
Description
The property comprises a ground floor shop, forming part of a larger building.
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 shop, forming part of a larger building.
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.
Tenancy & Accommodation
Floor
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Retail/Ancillary
287.53 sq m
(3,095 sq ft)
LADBROKES BETTING & GAMING LIMITED (1)
10 years from 03/12/2012 on a full repairing and insuring lease
£75,000 (sublet at £78,333)
Total
287.53 sq m
(3,095 sq ft)
£75,000
NB. The Seller has served notice on the residential tenants on the upper floors, pursuant to Section 5B of the Landlord and Tenant Act 1987. (1) For the year ending 31st December 2016, Ladbrokes Betting & Gaming Limited reported a turnover of £843,978,000, pre-tax profits of £-499,547,000 and a total net worth of £722,200,000. The property was sublet to The Corn Exchange (Newbury) Trust from 2nd August 2017 until 24th September 2022 (subject to a tenant option to determine between 4th May 2020 and 3rd November 2020) at a sublet rent of £78,333 p.a. The Corn Exchange Newbury are a Charity who present UK and international artists in theatre, dance, music, comedy and visual arts. The tenant uses the subject property as a learning centre. Corn Exchange Hall is located two doors from the property and is an arts centre with a cinema and theatre presenting music, comedy and dance.
