Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review |
| Ground |
Retail |
175.6 sq m
|
(1,890 sq ft)
|
SPECSAVERS
OPTICAL
SUPERSTORES
LIMITED (1) |
15 years from
28/10/2008 until
27/10/2023 on a full
repairing and
insuring lease |
£20,000 (2) |
28/10/2018 |
Total
|
175.6 sq m |
(1,890 sq ft) |
|
|
£20,000 (2) |
|
(1) For the year ending 28th February 2017, Specsavers Optical Superstores Limited reported a turnover of £716,509,000, a pre-tax profit of £32,772,000 and a total net worth of £54,000,000 (Source: Experian Group 13/4/2018).
(2) Under the terms of the lease, the current rent reserved is £10,000 per annum exclusive (p.a.x.), up to and including 27/08/2018. From 28/08/2018 the rent increases to £20,000 per annum exclusive (p.a.x.). The seller will pay the buyer the difference between £10,000 p.a.x. and £20,000 p.a.x. from completion of sale until the 28th August 2018. Therefore the property will produce £20,000 p.a.x. from completion of the sale.
