Tenancy & Accommodation
| Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x. |
Reviews |
| Ground |
Shop |
25 sq m |
(266 sq ft) |
RONTEC SERVICE STATION 1A LTD guaranteed by Rontec Investments LLP and on assignment from Total Downstream UK plc (formerly Fina plc) (1) (2) |
50 years from 25/03/1988 until 2038 on a full repairing and insuring lease |
£35,000
rising to £52,009 in 2033 (3) |
Fixed increases in 25/03/2018 and 5 yearly (3) |
| Totals |
|
25 sq m |
(266 sq ft) |
|
|
£35,000 |
|
(1) For the year ending 30th September 2012, Rontec Investments LLP reported a turnover of £813,750,000, pre-tax profits of £21,281,000
and a total net worth of £52,421,000. (Source: www.riskdisk.com 28/08/2013)
(2)For the year ending 31st December 2012, Total Downstream UK plc (formerly Fina plc) reported a net worth of £208,743,000.
(Source: riskdisk.com 09/09/2013)
(3)The current rent reserved under the terms of the lease is £30,000 p.a.x. At the March 2013 rent review the following fixed increases in rent were agreed; £31,000 p.a.x. in 2014, £32,500 p.a.x. in 2015, £34,000 p.a.x. in 2016 and £35,000 p.a.x. in March 2017. In addition the lease provides for the following fixed rental increases to £38,643 p.a.x. in March 2018, £42,665 p.a.x. in March 2023, £47,106 p.a.x. in March 2028 and £52,009 p.a.x. in March 2033. The seller will pay the buyer the difference between the appropriate current rent reserved and the £35,000 p.a.x. from completion of the sale until 24/03/2017. Therefore the property will produce £35,000 p.a.x. from completion of the sale.
