Sold Price: £490,000, 1 To 19 East Laith Gate & 2 To 8 Nether Hall Road, Doncaster, South Yorkshire, 433+48630

Property Details

Location

The property is located in Doncaster and fronts onto East Laith Gate on the eastern side of the town centre in a mixed retail/leisure area. The town enjoys excellent communication links, being close to the main motorway network (A1, M18 and M62), and within 7 miles of Robin Hood International Airport. The main line rail station is close by and Sheffield is some 20 miles to the south west.

Description

Freehold two storey property in a popular retail parade comprising a first floor bingo hall let to Mecca Bingo Ltd at 110,000 per annum accessed through a ground floor reception area with the remainder of the ground floor being subject to a number of long term lease agreements at peppercorn rents, with onsite parking. The property is laid out to provide the main bingo hall, arcade area and bar/refreshments area with ancillary accommodation

Accommodation

The property comprises a first floor Bingo Hall which is located within a two storey retail block/parade. Access to the first floor is via a converted retail unit which forms the principle access to the property. A further ground floor unit is used as a fire exit. The first floor is serviced by an escalator, stairwell and lift.

Internally the property is laid out to provide the main bingo hall, arcade area and bar/refreshment area, together with ancillary accommodation.

The property has the following approximate floor areas :

	sq m	sq ft
Ground Floor	70.9	764
First Floor	2,074	22,330
Total Floor Area	2,145	23,094

Outside

The property benefits from an open car park located adjacent to the rear of the building which can accommodate approximately 22 vehicles together with undercroft parking area providing space for a further 30 vehicles.

Planning

Interested parties should consult direct with the Local Planning Office, Doncaster Metropolitan Borough Council, Civic Office, Waterdale, Doncaster, South Yorkshire, DN1 3BU. Tel: (01302) 736000

Tenancy

See the addendum regarding the property being sold. The occupational lease is for a term of 10 years from 25th December 2015 at £110,000 per annum exclusive with a tenants break at the end of the 5th year or, if not exercised, a rent review.

General

Accounts for Mecca Bingo Limited posted to Companies House in June 2018 detail a pre tax profit of £16.1m and a revenue of £199.4m. Interested parties should satisfy themselves in this regard.

Addendum

The legal pack details the address for the property as being 1 to 19 East Laith Gate and 2 to 8 Nether Hall Road, Doncaster. The sale comprises the freehold title SYK191214. However the ground floor of units 3, 5, 7 and 9 East Laith Gate are excluded from the title. The freehold title is subject to various occupational leases, as set out in title number SYK191215. The freehold is also subject to a long lease (part of first floor and access points at ground level) to Gumford Limited for which the LPA Receivers have been appointed over. The long leasehold interest will be sold with the freehold interest. The leasehold is subject to a lease to Mecca Bingo, set out in title number SYK639464.