Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
Ground
Ground
Mezzanine
First |
Trade Counter/
Warehouse
Office
Storage
Office |
802.30 sq m
100.50 sq m
164.00 sq m
91.20 sq m |
(8,636 sq ft)
(1,082 sq ft)
(1,765 sq ft)
(982 sq ft) |
TRAVIS
PERKINS
(PROPERTIES)
LIMITED (1) |
25 years from
01/12/2006 until
30/11/2031 on a
full repairing and
insuring lease (2) |
£56,722.12 (3) |
01/12/2020
and five
yearly (3) |
Total
|
1,158.00 sq m |
(12,465 sq ft) |
|
|
£56,722.12 (3) rising to a
minimum of £65,756.48 in
2025 and £76,229.78 in 2030 |
(1) For the year ending 31st December 2018, Travis Perkins (Properties) Limited reported a turnover of £92,200,000, pre-tax profits of £52,200,000 and a total net worth of £277,100,000 (Source: beta.companieshouse.gov.uk 31/05/2019). Travis Perkins is the UK's largest distributor of building materials and has been helping build Britain for over 200 years. With 20+ businesses in the Group, they have grown to approximately 29,000+ employees across more than 2,000 branches, stores and sites around the UK
(Source: www.travisperkinsplc.co.uk 05/06/2019).
(2) The lease is subject to a schedule of condition.
(3) The rent reviews are upwards only to the higher of two thirds of Market Rent (as defined in the lease) or the annual rent payable increased by 3% per annum compounded annually. For further information, please refer to the lease available in the legal pack.
The current passing rent is £48,929, rising to a miniumum of £56,722.12 on 01/12/2020. The seller has agreed to adjust the completion monies so that the unit will effectively produce £56,722.12 from the completion of sale.
