Location Estimated District Population: 222,000 Miles: 16 miles west of Nottingham 33 miles north-west of Leicester
Roads: A6, A38, A52, M1
Position The property is located on Foresters Leisure Park about 4 miles south of Derby City Centre close to the junction of Sinfin Lane and Newdegate Street (A5111).
Nearby: Tenpin Bowling, Showcase Multiplex Cinema, Pizza Hut, KFC, Premier Inn and Sainsbury’s.
Description BINGO HALL arranged on the ground floor only. The property benefits from a large site of approximately 0.9 hectare (2.2 acres) providing ample car parking and servicing within a landscaped site.
Accommodation Bingo Hall/Ancillary Total Commercial Area
Tenure Freehold.
Tenant GALA LEISURE LIMITED (1) with a guarantee from GALA GROUP FINANCE PLC
Lease Term: 25 years from 19th September 2005 Basis: FRI Rent: £315,311 per annum Fixed Increases: Rising to £323,193 per annum in September 2012 and by a further 2.5% pa each year
Expiry: September 2030
VAT is applicable to this lot – please see Special Conditions of Sale.
Gross Internal Areas
2,265.83 sq m 2,265.83 sq m
(24,390 sq ft) (24,390 sq ft)
(1) Trading as Gala, Gala Leisure Ltd for the year to September 2010 reported a turnover of £308 million and total assets of £1.779 billion. The Gala Coral Group is one of Europe’s pre-eminent betting and gaming businesses with well established brands both on the High Street and internet. Gala Bingo is the leading operator in the UK Bingo sector with an approximate market share of about 34%. (Source: One Source One-Stop Report and www.galacoral.co.uk)
NB. The lease incorporates a tenant’s option to renew the lease for a further term of not less than 5 years and no more than 25 years – please see legal documentation.
Rent £315,311 pa
Modern Freehold Leisure Investment
• Let to Gala Leisure Limited with guarantee from Gala Group Finance plc
• Lease expires September 2030 (No Breaks)
• Rent rises to £323,193 pa in September 2012
• Further fixed 2.5% per annum rental increases every year throughout lease
• Completion 22nd December 2011
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 Shoosmiths. t: 03700 865000. e: matthew.kenwood@shoosmiths.co.uk Ref:MKenwood Esq.