Tenancy & Accommodation
Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews/ (Reversion) |
1 |
Ground |
Betting Shop |
85.10 sq m |
(916 sq ft) |
LADBROKES BETTING & GAMING LIMITED (1) |
10 years from 30/11/2016 |
£24,000 |
30/11/2021 (29/11/2026) |
2 |
Ground & First |
Public House |
557.97 sq m |
(6,006 sq ft) |
INDIVIDUAL t/a Set The Bar with guarantee |
10 years from 02/04/2018 (2) |
£30,000 (2) |
(01/04/2028) |
3 |
Ground First |
Hot Food Takeaway |
85.10 sq m 77.48 sq m |
(916 sq ft) (834 sq ft) |
Y Y LEE t/a Rainbow Express Chinese |
15 years from 24/06/2016 (3) |
£25,000 |
24/06/2021 and 2026 (26/02/2031) |
4 |
Ground First |
Retail |
75.25 sq m 65.96 sq m |
(810 sq ft) (710 sq ft) |
J & M EASTHAM t/a The News Stop |
12 years from 26/09/2012 (2018 tenant break not exercised) (4) |
£15,000 |
(25/09/2024) |
Kiosk 1 |
Ground |
Retail |
32.61 sq m |
(351 sq ft) |
WREXHAM COFFEE COMPANY LTD |
5 years from 03/02/2016 |
£8,500 |
(02/02/2021) |
Kiosk 2 |
Ground |
Retail |
33.35 sq m |
(359 sq ft) |
J & M EASTHAM |
12 years from 26/09/2012 (5) |
£8,500 |
26/09/2018 & three yearly (25/09/2024) |
Kiosk 3 |
Ground |
Retail |
32.14 sq m |
(346 sq ft) |
THE VAPOUR LOUNGE (WREXHAM) LTD |
5 years from 17/12/2015 (6) |
£7,000 |
(16/12/2020) |
Total |
|
1,044.96 sq m |
(11,248 sq ft) |
|
|
£118,000 |
|
(1) For the year ending 31st December 2016, Ladbrookes Betting & Gaming Limited reported a turnover of £843,978,000, pre-tax profits of negative £499,547,000 and a total net worth of £722,200,000 (Source: Experian Group 27/4/2018). The lease provides for the tenant to benefit from a concessionary rent of £12,000 p.a.x. until 29th September 2018. The rent payable from 29th September 2018 will be
£24,000 p.a.x. The seller will pay the buyer the difference between £12,000 p.a.x. and £24,000 p.a.x. from completion of the sale until 29th
September 2018. Therefore, the unit will produce £24,000 p.a.x. from completion of the sale.
(2) As to Unit 2, the tenant has occupied the unit since October 2014. The lease provides for a tenant option to determine the lease on the 5th anniversary of the term and a 6 month rent free period from the commencement of the term and for the 6 month rent free period in the event the tenant does not exercise the option to determine.
(3) As to Unit 3, the tenant business was sold in 2016 when the new business operator extended the lease to 2031. The lease is outside the security of tenancy provisions of the Landlord and Tenant Act 1954.
(4) As to Unit 4, the Tenants 26th September 2018 option to determine was not exercised and the seller is holding a £9,000 rent deposit.
(5) As to Kiosk 2, the lease provide for a tenant option to determine the lease on 26th September 2018 subject to 6 months’ notice. The tenant
has sublet the property.
(6) As to Kiosk 3, the tenant recently completed a refurbishment of the unit and has applied for a change of use to A3 and is now trading as a coffee shop.