Tenancy & Accommodation
Address |
Floor |
Use |
Floor Areas Approx sq m |
Floor Areas Approx sq ft |
Tenant |
Term |
Gross Rent p.a.x. |
Rent Review (Reversion) |
500 High Road |
Ground First |
Retail Ancillary |
49.02 |
(528) |
INDIVIDUAL T/A FIRST TECH SOLUTIONS (CRN: 06483999) |
15 years from 29/09/2010 |
£20,000 |
(28/09/2025) |
502-504 High Road |
Ground |
Retail Restaurant Ancillary |
496.60 |
(5345) |
MCDONALD'S RESTAURANTS LTD (CRN: 01002769) (in occupation for over 40 years)(4) |
22 years from 20/03/2010 |
£123,505 (4) |
26/03/2026 (19/03/2032) |
502-508 High Road |
Entrance First Second |
Retail Restaurant Ancillary |
- 909.85 128.67 |
- (9794) (1385) |
SOFFI AND CO LIMITED (T/A CLASSIC RESTAURANT) (6) |
A term from 10/09/2021 until 20/03/2032 |
£150,000 (rising to £163,000 in 2027 and £178,000 in 2030) (3) |
(20/03/2032)(3) |
508 High Road |
Ground |
Retail Ancillary |
333.58 |
(3,590) |
SAVERS HEALTH AND BEAUTY LIMITED (CRN: 02202838) (in occupation for over 30 years)(5) |
5 years from 22/01/2024(3) (2) |
£81,250 (2) |
3 yearly rent increases |
Total Approximate Area |
|
|
1,917.72 (1) |
(20,642) (1) |
|
|
£374,755 pax (rising to £387,755 pax in 2027 and £402,755 pax in 2030) (3) |
|
(1) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk), save for the floor areas stated for 502-504 High Road, which are the floor area that were adopted by the Surveyors acting for the parties at a previous rent review.
(2) Unit 508 High Street is let to Savers Health and Beauty Limited at a current rent reserved of £80,000 per annum exclusive. Savers Health and Beauty Limited also pay a licence fee of £1250 per annum exclusive, therefore the total income from Savers Health and Beauty Limited is £81,250 per annum exclusive. The lease provides for a tenant option to determine the lease on 22/01/2027 on serving 6 months written notice.
(3) As to 502-508 High Road, the rent increases to £163,000 p.a.x on 10/09/2027 and £178,000 p.a.x on 10/09/2030.
(4) Unit 502 to 504 is let to McDonalds Restaurants Limited at a current rent reserved of £121,700 per annum exclusive. McDonalds Restaurants Limited also pay a licence fee of £1805 per annum exclusive, therefore the total income from McDonalds Restaurants Limited is £123,505 per annum exclusive. McDonald's holds more than 36,000 restaurants in over 100 countries. Nationwide, the company employs over 150,000 people, with the UK alone holding over 120,000 people across their restaurants and head office. Globally, there are over 2 million franchise employees. For the year ending 31st December 2023, McDonald's Restaurants Limited (CRN: 01002769), reported a Turnover of £1,835,618,000., Pre-Tax profits of £66,327,000., and Shareholder Funds of £789,294,000., (Source: McDonald's Restaurants Limited Annual Report and Financial Statements as published at Companies House on the 21st May 2025).
(5) As to bullet point 4 above, Either Savers itself or it’s group company Super Drug Stores plc has been in occupation of the property for over 30 years. Savers Health and Beauty Limited currently have over 500 stores throughout Scotland, Wales and Northern Ireland with over 50,000 employees. The company is also part of the A.S. Watson Group, one of the world's largest international health and beauty retailers by number of stores, who have 16,500 stores in 28 markets and over 130,000 employees worldwide. For the year ending 30th December 2023, Savers Health and Beauty Limited (CRN: 02202838), reported a Turnover of £754,828,000., Pre-Tax Profits of £61,257,000., and Net Assets of £142,121,000., (Source: Savers Health and Beauty Limited Annual Report and Financial Statements as published at Companies House on the 21st May 2025).
(6) Further information on the Tenant can be found on their website at https://clasicrestaurant.co.uk/