Tenancy | Number of Storage Units | Sq M | Sq Ft | Rent (£pa) | Total Rent (£pa) |
124 lease each for a term of 250 years from 2013/2104 (1) (2) (3) | 31 36 27 29 6 4 | 2.3 4.65 6.7 9.3 13.9 18.6 | 25 50 75 100 150 200 | £50 £100 £150 £200 £300 £400 | £1,550 £3,600 £4,050 £5,800 £1,800 £1,600 |
TOTAL | 133 | 55.45 | 600 | £1,200 | £18,400 |
(1) Rent review in 2023 and 10 yearly thereafter to RPI. Fixed uplift in 2023 to £36,800 per annum.
(2) There is a management company, Strongbox Self Storage Limited, that operates the storage business from the premises. Further information can be found at www.strongboxselfstorage.co.uk.
(3) The Administrators have recovered £18,400 for the current year and £18,400 for 2018/2019. The leases appearing on the freehold title at the Land Registry indicate c.£17,000 pa is payable with the balance of the £18.400 being paid over for use of the unlet units. Brambles Administrator Limited, who act as agent on behalf of the pension schemes and pays over ground rent on behalf of the schemes have advised the Administrators that they will make arrangements for the Land Registry to be updated to consolidate the registered proprietors of the ground rent generating leasehold titles into professional trustees.