Prime City Centre
Busy Thoroughfare
Ground & Bsm Floor
Let To Paddy Power
Expiry: 11th November 2027
Passing Rent: £35,000p.a.x
Price: o/o £335,000
Location
The units are located within
the heart of Union Street the City’s traditional commercial thoroughfare, in close proximity to the busy Union Street / Union Terrace junction and close to Union Terrace Gardens, currently benefitting from a circa £30M major regeneration. The City’s Shopping Centres are all within walking distance as are the rail and bus stations.
Occupiers in the vicinity include Primark, Barclays, HMV, Poundland, KFC and Lakeland. A Travelodge is close by as are a number of bars and restaurants.
Property
The property comprises a mid-terraced retail space within a mixed use development of traditional granite construction surmounted by a pitched roof.
Benefitting from a prominent frontage, the property offers dual display windows flanking the partially recessed frontage of aluminium framed and glazed construction.
Internally the property is fitted out in accordance with the tenants corporate specifications with floors overlaid in laminated timber with lighting provided by way of fluorescent strips recessed within the suspended acoustic tile ceiling. The property has been partitioned to offer customer w.c and staff counter, with the basement floor accessed via a single staircase to the rear of the demise.
The basement offers staff facilities, office and stores
Area
The property has been calculated to extend to following internal area;
Ground: 101.64sqm (1,094sq ft)
Bsm: 87.89sqm (946sq ft)
Total: 189.53sqm (2,040sq ft)
Executive Summary
The property is held on a full repairing and insuring head lease on the following terms;
Tenant: Power Leisure Bookmakers Ltd t/a Paddy Power
Expiry: 18th November 2027
Passing Rent: £35,000p.a.x
Covenant: Power Leisure Bookmakers Limited
Power Leisure Bookmakers Limited are a subsidiary of FTSE 100 Listed Flutter Entertainment plc. Flutter owns a number of the world's best known entertainment and gaming brands. Founded in 1988 Power Leisure currently trade from over 600 shops in the UK and Ireland.
Price
The property is available on a freehold investment basis for o/o £335,000
V.A.T
The vendor has opted to waive their option to tax, as such the transaction will be treated as a transfer of a going concern.
E.P.C
Available on request
Title
Available on request
Legal
Each party shall bear their own legal costs incurred in the transaction
Viewing
Whilst it is a good idea to visit a trading business that is being marketed for sale as a customer before making a formal viewing, it is vitally important that such visits are carried out confidentially and that no approach is made to the staff, operators or customers of the business.
Many investments are being marketed confidentially and the staff and locals may not know that the property is on the market, therefore a casual approach can adversely affect the business.
Anti-Money Laundering
In order to comply with anti-money laundering legislation, the successful purchaser / tenant will be required to provide certain identification documents. The required documents will be confirmed to and requested at the relevant time.