Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
33-34
High
Street |
Ground
First
|
Retail/Storage
Storage
|
|
(1,756 sq ft)
(1,597 sq ft) |
MR HAWAR RAMO (t/a New
International Store)
|
10 years from 19/09/2012 until 18/09/2022 on a full repairing and insuring lease |
£25,000 (1) |
19/09/2017
|
67-69
Calthorpe
Street |
Ground
First |
Retail/Storage
Office/
Ancillary/
Residential
|
|
SUKHMANI LIMITED (t/a Pizza Hut) (2) guaranteed
by Majinder Singh Braich
|
10 years 6 months from 11/06/2011 until 24/12/2021
on a full repairing and insuring lease |
£18,500 (3) |
11/06/2016
|
| Totals |
|
|
442.59 sq m |
(4,764 sq ft) |
|
|
£43,500 (1) (rising to
£46,500 p.a. in 2015) |
(1) For the purposes of clarification, the current rent for 33-34 High Street is £22,000 p.a.x. There is a fixed rental increase to £25,000 p.a.x. in 2014 and to £28,000 p.a.x. in 2015. The seller has agreed to adjust the completion monies so that the unit will effectively produce £25,000 p.a.x. from completion of the sale.
(2)Founded in 1958, Pizza Hut are the biggest pizza company in the world and hire over 18,000 people in 700 stores in the UK alone (Source: www.pizzahut.co.uk 16/04/2013). The tenant is a franchisee.
(3)For the purposes of clarification, Sukhmani Limited are currently benefiting from a rent free period due to expire on 23rd June 2013. This will be followed by a rental concession period due to expire on 28th September 2013 which was granted in return for taking a break option out of the lease. The seller has agreed to adjust the completion monies so that the unit will effectively produce £18,500 from completion of the sale.
