Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x. |
Reversion |
Ground Floor
First |
Retail
Ancillary |
83.61 sq m
104.88 sq m |
(1,129 sq ft)
(900 sq ft) |
BOOTS UK
LIMITED (1) |
21 years and 4
months from
22/03/2005 on a
full repairing and
insuring lease (2) |
£20,941 |
21/07/2026 |
Total
|
188.49 sq m |
(2,029 sq ft) |
|
|
£20,941 (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 20 years expiring 21/07/2020, however a 6 year reversionary lease has been signed from expiry of the current term until 21/07/2026 at a rebased rent of £16,753 p.a.x.
(3) At the commencement of the reversionary lease on 21/07/2020, the rent will rebase to £16,753 p.a.x and the tenant will benefit from a six month rent free period. The seller has agreed to adjust the completion monies so the sale will effectively produce £16,753 p.a.x. from the commencement of the reversionary lease.
