Tenancy & Accommodation
| Floor |
Use |
Floor Areas
(Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
Ground
First |
Office
Office |
792.46 sq m
1,009.85 sq m
(2) |
(8,530 sq ft)
(10,870 sq ft)
(2) |
ADVANTIS CREDIT
LIMITED (3) |
10 years from 31/07/2020
until 30/07/2030 (4) on a full
repairing and insuring lease |
£194,000 (1) |
31/07/2025 |
Total
|
1,802.31 sq m |
(19,400 sq ft) |
|
|
£194,000 (1) |
|
(1) The gross rent payable by the tenant is inclusive of both a management and maintenance charge, but there is no service charge as there are no common areas. Under the terms of the lease, the current gross rent payable is £162,930 pa, with a fixed rental uplift to £194,000 pa on 31/07/2022. The Vendor has agreed to top up the rent from completion of the sale to the fixed rental uplift so that the property effectively produces £194,000 pa from completion of the sale until the fixed uplift in 2022. Please see Special Conditions of Sale.
(2) Gross Internal Area approximately 2,755 sq m (29,659 sq ft). Net Internal floor areas do not include a mezzanine floor of approximately 336.40 sq m (3,621 sq ft).
(3) For the year ending 30/09/2019, Advantis Credit Limited reported a turnover of £9,763,878, pre-tax profits of £2,367,320 and total assets of £13,000,298 (NorthRow 15/02/2021). Advantis Credit Limited are part of CDER Group, which became part of Outsourcing Inc in 2016. Outsourcing Inc is a Japanese multi-national company headquartered in Tokyo with operations in China, Singapore, India, Australia, Belgium and the UK with revenues in 2017 in excess of US$2 billion (cdergroup.co.uk). Advantis are a leading UK Debt Collection Agency, specialising in Debt Collection and Credit Management, and now have over 250 members of staff (www.advantiscredit.co.uk).
(4) The lease is subject to a tenant option to determine on 31/07/2025.
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