Unit | Floor | Use | Sq M | Sq Ft | Tenancy | Rent (£pa) |
27 Wote Street | Ground First (rear left) | Bar/Nightclub | 416.75 237.08 | 4,486 2,552 | Let to Pure Lounge Bar Ltd for a term of 15 years from 12/03/2010 (1) | £97,000 |
27 Wote Street | First (rear right) | Offices | 49.84 | 536 | Vacant | |
27 Wote Street | First (front left) | Offices | 95.10 | 1,022 | Vacant | |
27 Wote Street | First (front right) | Offices | 86.30 | 929 | Vacant | |
29 Wote Street | Ground | Retail | 115.00 | 1,237 | To be let to Snezana Catering Ltd t/a a Greek restaurant on a new lease for a term of 5 years (2) | £26,000 (3) |
TOTAL | 1,000.07 | 10,762 | £123,000 (3) |
(1) A lease renewal for an addtional 20 years (without break) has been agreed at the current rent of £97,000 per annum. This is due to complete prior to the auction (refer to legal pack).
(2) Heads of Terms have been agreed and the lease is due to be signed prior to the auction. A rent deposit of £10,000 is to be held (refer to legal pack).
(3) There is a fixed rental increase to £28,000 from Year 2 onwards making the total annual rent £125,000 per annum.
(4) The auctioneers have not measured the property. All areas have been obtained from the VOA and should not be relied upon.