Self Contained Showroom Suite
1,810 sq ft
Lease for Assignment
The property is situated on the Northern side of Eastcastle Street between Great Titchfield Street and Wells Street. Oxford Street, with its excellent shopping facilities runs parallel to the South and Oxford Circus Underground Station is within a short walking distance.
This is an attractive and well appointed self-contained showroom suite arranged over ground floor and basement currently used as an Art Gallery.
High Quality fitted out Gallery space
High Specification lighting system
Wooden flooring on ground floor
Tenant installed comfort cooling (not tested)
A 15 year lease was granted from 19th July 2010 on an effective FRI lease. A rent review took place in July 2015 with a stepped rent from £45,000 pa increasing to £55,000 pa for 2019/2020 was agreed. There is a tenant only break clause in July 2020 with 6 months written notice. The lease is contracted outside the Landlord and Tenant Act. The lease has an approximate unexpired term of just under 9 years.
Ground Floor – 850 sq ft (78.96 sq m) NIA
Lower Ground Floor – 960 sq ft (89.18 sq m) NIA
Total – 1,810 sq ft (168,14 sq m) NIA
Upon completion of legal formalities
July 2016 to July 2017 - £48,000 pa exclusive
July 2017 to July 2018 - £50,000 pa exclusive
July 2018 to July 2019 - £52,000 pa exclusive
July 2019 to July 2020 - £55,000 pa exclusive
A premium of £75,000 is required for the benefit of the lease (subject to contact)
Tenant to pay a contribution towards external works to the premises.
We have been advised that the rates payable for 2016/2017 is £20,377. We would advise you to check this with the local authority.
Each party to be responsible for their own legal fees
Strictly by appointment with the sole agents,
Davis Brown for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that: (i) the particulars are set out as a general outline only for the guidance of intending purchasers, or lessees, and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Davis Brown or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property; (iv) all rentals and prices quoted are exclusive of VAT (if chargeable)
SUBJECT TO CONTRACT