Tenancy & Accommodation
|Floor||Use||Floor Areas (Approx)||Tenant||Term||Rent p.a.x|
85.47 sq m
31.90 sq m
(920 sq ft)
(344 sq ft)
|20 years and 4 months from 22/03/2005 until 20/07/2025 on a full repairing and insuring|
|Three bed flat|
|Total Commercial Area |
117.37 sq m
(1,264 sq ft)
| || ||£17,503 (3)|
(1) For the year ending 31st August 2018, Boots UK Limited reported a turnover of £6,790,000,000, pre-tax profits of £398,000,000 and a total net worth of £875,000,000 (Source: Experian Group 19/09/2019). Boots is the largest pharmacy health and beauty chain in the UK and as at 31st August 2018 had 2,485 stores across the UK (Source: www.boots-uk.com/about-boots-uk/about-boots/boots-in-numbers/ 20/09/2019).
(2) The current lease is for a term of 15 years and four months expiring 21/07/2020, however a 5 year reversionary lease has been signed from expiry of the current term until 21/07/2025 at a re-based rent of £14,002 p.a.x.
(3) For the purpose of clarification, the current passing rent is £17,225 p.a.x. The current lease provides a fixed rental increase to £17,503 p.a.x from 1st April 2020. The seller has agreed to adjust the completion monies so the sale will effectively produce £17,503 p.a.x. from the completion of sale. At the commencement of the reversionary lease on 21/07/2020, the rent will re-base to £14,002 p.a.x for the remainder of the term.