Admiral Amusements, Stevenage

 

37 Queensway, Stevenage, Hertfordshire, SG1 1DN

Offers in excess of
N/A
Acquired
Type - Commercial
Tenant type - Retail – other
  • Tenure: Freehold
  • Gross Rent: £48,000
  • Lease Term: 25 years from 9th March '93
  • VAT applicable?: Y

Property Description

  • Freehold, blue-chip gaming arcade investment.
  • The property comprises a ground floor retail unit with ancillary accommodation on the first and second floors.
  • The site extends a total of 2144 sq ft.

Location Description

  • The property is situated on the eastern side of pedestrianized Queensway in the heart of Stevenage town centre and directly opposite Primark. Adjacent to the property includes Boots the Chemist, Superdrug, McDonald's and Natwest Bank.
  • The property is 11 miles north of Hatfield and 15 miles east of Luton, and 30 miles north of Central London.
  • Nearby road include A1 (M) and A602.
  • The property is situated in close vicinity to transport links encompassing Stevenage Railway Station and Luton Airport and Stansted Airport.

Additional Notes

  • The property is at present let to Luxury Leisure, trading as Admiral Nobles Amusements, under a 25 year lease from 9th March '93 on a full repairing and insuring lease.
  • The property has a current rent of £48,000 p.a.
  • Luxury Leisure was incorporated in 189. For the year ending 31st December 2015, Luxury Leisure reported a turnover of £53,544,645, pre-tax profits of £6,668,056 and a total net worth of £5,304,492.
  • Luxury Leisure is a wholly owned subsidiary of Novomatic UK Ltd, who for the year ending 31st December 2015, reported a turnover of £566,482, pre-tax profits of £34,692,713 and a total net worth of £110,010,804.

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