Location Estimated District Population: 117,000. Miles: 18 miles north-west of Colchester 25 miles south-west of Bury St Edmunds
Roads: A1189, A12, A14
Position The property is located on Nacton Road diagonally opposite Nacton Crescent in a mixed commercial and residential area about 2 miles south-east of the town centre.
Description BETTING OFFICE arranged on the ground floor and a self-contained flat arranged on the part ground and first floors.
Present Accommodation (approximate areas) Floor
Accommodation
Ground Ground (Part)/First
Betting Office/Ancillary Residential (understood to comprise 2 Rooms, Kitchen, Bathroom/WC)
Total Commercial Area (1) Trading as Coral, with about 1,600 branches (Source: www.galacoral.co.uk)
Tenure Freehold.
Tenant CORAL RACING LIMITED (1)
Lease Term: 16 years from 28th February 2011 Basis: FRI Rent: £13,300 per annum Reviews: Rising to a minimum of £15,047 pa or OMRV in March 2016 and further by 2.5% pa compounded annually or OMRV in March 2021.
Expiry: February 2027 VAT is not applicable to this lot.
For identification purposes only – please see title documentation.
Freehold Betting Office Investment • Let to Coral Racing Limited • New 16 year lease (no breaks)
• Rent review 2016 a to minimum of £15,047 pa. Further minimum increase in 2021
• VAT- free investment and Completion 9th January 2012 available
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Wallace LLP. t: 0207 636 4422. e: jackie.boot@wallace.co.uk Ref: Mrs J Boot.