Buzz Bingo Hall Oasby Croft, Tong Street Bradford West Yorkshire BD4 9RD

Buzz Bingo Hall
Oasby Croft, Tong Street
Bradford
West Yorkshire
BD4 9RD

Freehold Leisure/Warehouse Investment with Annual RPI Increases

Let to Buzz Group Limited (formerly Gala Leisure Limited) on a lease expiring in December 2039 (no breaks)
Annual RPI linked rental increases - minimum of 1% p.a. and a maximum of 4% p.a. - next rent review December 2022
Rent £98,279.18 p.a. (low rent of £3 psf)
32,396 sq ft with 120 car parking spaces on a site of 2.87 acres
Change of use potential (subject to lease and consents)
Prominent location adjacent to Farmfoods Supermarket, Avenue Retail Park and Princes Foods' main UK production site

Lot
15
Auction
31st March 2022
Rent
£98,279 per Annum Exclusive
Status
Sold
Price
£1,770,000
Auction Venue
Live Streamed Auction

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Freehold Leisure/Warehouse Investment with Annual RPI Increases

Let to Buzz Group Limited (formerly Gala Leisure Limited) on a lease expiring in December 2039 (no breaks)
Annual RPI linked rental increases - minimum of 1% p.a. and a maximum of 4% p.a. - next rent review December 2022
Rent £98,279.18 p.a. (low rent of £3 psf)
32,396 sq ft with 120 car parking spaces on a site of 2.87 acres
Change of use potential (subject to lease and consents)
Prominent location adjacent to Farmfoods Supermarket, Avenue Retail Park and Princes Foods' main UK production site

Lot 15
Auction 31st March 2022
Rent £98,279 per Annum Exclusive
Status Sold
Price £1,770,000
Sector
Leisure
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 8 miles west of Leeds, 30 miles north-east of Manchester
Roads: A650, A6177, M606, M62
Train: Bradford Interchange, Bradford Forster Square Railway Stations
Air: Leeds Bradford Airport

Situation

The property is situated adjacent to Tong Street (A650), a main arterial route into Bradford (population of approximately 530,000), two miles south-east of the City Centre.
The surrounding area comprises retail warehousing, manufacturing, logistics and residential occupiers. Immediately adjacent is a Farmfoods supermarket and the Avenue Retail Park with occupiers including KFC, Pet City, Iceland, Poundstretcher, Cash Converters and Wynsors World of Shoes. Princes Foods' main UK production site is also adjacent and employs over 400 people. Other nearby occupiers include Next & Ceva Logistics.

Tenure

Freehold.

Location

Miles: 8 miles west of Leeds, 30 miles north-east of Manchester
Roads: A650, A6177, M606, M62
Train: Bradford Interchange, Bradford Forster Square Railway Stations
Air: Leeds Bradford Airport

Situation

Tenure

Freehold.

Description

The property which is entirely let to the tenant, has been subdivided to comprise a large ground floor bingo hall with ancillary accommodation totalling approximately 18,396 sq ft and a separate self contained area of approximately 14,000 sq ft which the tenant is currently using for storage. There is a service road to the front and east of the building.

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion

EPC

C 69

Description

VAT

VAT is applicable to this lot.

Completion Period

6 Week Completion

EPC

C 69

Tenancy & Accommodation

Floor	Use	Gross Internal Floor Areas (Approx sq m)	Gross Internal Floor Areas (Approx sq ft)	Tenant	Term	Rent p.a.x.	Rent Reviews
Ground Site Area	Leisure	3,009.70 sq m 1.16 ha	(32,396 sq ft) 2.87 acres	BUZZ GROUP LIMITED (1) (t/a Buzz Bingo)	25 years from 19/12/2014 to 18/12/2039 on a full repairing and insuring lease	£98,279.18	19/12/2022 and yearly thereafter. Annual rental increases linked to RPI 1% p.a. & 4% p.a. (minimum & maximum)
Total		3,009.70 sq m	(32,396 sq ft)			£98,279.18

(1) www.buzzgroupltd.co.uk. Buzz Bingo is the largest retail bingo operator in the UK with 91 clubs around England and Scotland providing a range of leisure activities including bingo, gaming machines and food & beverages. In July 2020 amid the COVID-19 Pandemic, Buzz Group Limited proposed a CVA (Company Voluntary Agreement). This property was designated a Category A Premises. Properties within Category A were considered to be bingo clubs that were expected to perform strongly (assuming that the effect of the COVID-19 Pandemic and the COVID-19 Restrictions reduced in line with the companies expectations) or sites that were otherwise of strategic importance to the company. No rent reductions were required for properties that fell into the Category A designation. The CVA was approved in August 2020.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.