Tenancy & Accommodation
|Floor||Use||Floor Areas (Approx)||Tenant||Term||Rent p.a.x||Reviews/|
|1,435.62 sq m||(15,453 sq ft)||THE SECRETARY|
OF STATE FOR
t/a Job Centre Plus
until 31/03/2027 on
a full repairing and
insuring lease (1)
|Third (Suite 3.2)||Office||503.44 sq m||(5,419 sq ft)||VACANT POSSESSION|| || || |
4.2 and 4.4)
|Office||417.60 sq m||(4,495 sq ft)||VACANT POSSESSION|| || || |
|Office||77.76 sq m||(837 sq ft)||AHL INDUSTRIAL|
|5 years from|
|Mast|| || || ||CORNERSTONE|
|25 years from|
|Antenna|| || || ||HUTCHISON 3G UK|
|20 years from|
2,434.42 sq m
(26,204 sq ft)
| || ||£139,405.54|| |
(1) The lease is on full repairing and insuring terms, subject to an arrangement during the period where the Government or a Government Department is the tenant where generally the Government will be self-insuring, i.e. there is no requirement for the tenant to insure and no entitlement for the landlord to reinstatement as set out in Schedule 9 of the Lease.
(2) The lease provides for a rent free period from 1st April 2018 until 1st January 2020. The seller will pay the buyer monies equivalent to £109,500 per annum exclusive from completion of the sale until the end of the rent free period. Therefore, the property will produce £109,500 per annum exclusive from the completion of the sale.
(3) AHL Industrial Pipework Specialists Limited was incorporated in March 1989 and is rated by Experian as “Very Low Risk”. (Experian 21/01/2019). As to Office Suite 4.3, the lease provides for a tenant option to determine the lease on 21/09/2020 on 6 months’ notice
(4) The lease provides for a tenant option to determine the lease at any time after 03/08/2018 on 12 months’ written notice. The tenant can also determine the lease immediately if either Telefonica or Vodafone loses its statutory authorisation to operate a communications network/its operators licence.
(5) The lease provides for a tenant option to determine the lease at any time after the fifth anniversary, if the tenant establishes to the landlord’s reasonable satisfaction that the demise can no longer be used for the use permitted by the lease. There is a Landlord only option to determine the lease at any time after the fifth anniversary of the lease on 12 months’ notice where it can show a settled intention to develop and could not reasonably do so without obtaining possession of the areas in which the apparatus is situated.