Situated on Main Arterial Route
Centre of Busy Mixed Use Area
2,152sq ft
Let To: Ladbrokes Betting & Gaming Ltd
Passing Rent: £XXXp.a.x
Expiry: August 2026
Review: 15th June 2020
Tenant Break: 2022
Offers Over £XXX
Location
The subjects are situated on the North side of Wellmeadow Street, West of its junction with Well Street within Paisley town centre.
Situated on the main arterial route through Paisley town centre, the subjects benefit from high volumes of passing pedestrian and vehicular traffic throughout the day. Public transport links are in close proximity with bus stops near the subjects along with Paisley St James Station within a few minutes walk.
Adjacent to the subjects, an extensive residential development is within the final stages offering affordable housing and flatted dwellings.
Subjects
The subjects comprise a ground floor retail unit with double frontage set within a traditional 3 storey tenemental building of blonde sandstone construction surmounted by a pitched tile roof.
Benefitting from large double frontage, offering 5 No. ample display windows, with extensive signage, the subjects are accessed via a recessed aluminium framed glazed door leading to an open plan gaming area.
The subjects have been decorated in accordance with Ladbroke's corporate specification, with floors being overlaid in teal commercial carpet, walls have been lined with screens recessed therein. Partitions have been erected to form secure staff counter, private office, tea prep area, customer & disabled w.c facilities.
Heating and cooling is provided by way of ceiling mounted air conditioning units, along with lighting by way of halogen spots recessed within the suspended acoustic tile ceiling.
Area
The subjects have been measured on a Net Internal Area basis in accordance with RICS Code of Measuring Practice (6th Edition) to offer;
Ground: 199.9sqm (2,152sq ft)
Executive Summary
The subjects are held on a Full Repairing and Insuring Basis on the following terms;
Tenant: Ladbrokes Betting & Gaming Ltd
Term: 21yrs & 2. Months
D.o.E: 15th June 2005
Expiry: 14th August 2026
Review: 5th Anniversary
Tenant Break: June 2022
Passing Rent: £XXXp.a.x
Covenant Info
Coral is a British betting and gaming company that offers online, mobile and retail products with a chain of betting shops across the UK.
The brand, under the name Gala Coral, joined with Ladbrokes in 2016 to become Ladbrokes Coral Group in a £XXX billion deal that included the merger of more than 4,000 betting shops and 30,000 employees.
In March 2018, Ladbrokes Coral merged with gaming firm, GVC Holdings. Currently, Ladbrokes Coral has a 46.5% share of the combined business and each brand continues to operate under their respective names.
Proposal
Our client is offering their freehold interest in the subjects for offers in excess of £XXX
E.P.C
Available on request
V.A.T
Our client has opted to waive their option to tax, as such the transaction will be treated as a Transfer of a Going Concern (ToGC). Further information available on request.
Legal
Each party shall bear their own legal costs incurred during the transaction
Lease & Title
Copies available on request via the marketing agent