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For SalePOA

Ladbrokes Investment For Sale - High Street, Jedburgh

Retail, Office, Restaurants / Cafes, Retail - High Street, Offices
Property type: Retail, Office, Restaurants / Cafes, Retail - High Street, Offices
Tenure: Investment Opportunity, For Sale Freehold
Price: POA
Location: 15 High Street, TD8 6AQ

Town Centre Retail Unit
Prominent High St Position
Ground Floor
Let to Ladbrokes Betting & Gaming Limited
Expiry July 2021
Passing Rent: £7,800p.a.x
Offers Of £105,000 are invited representing a Gross Initial Yield of 7.4%

Location

The subjects are situated on the east side of High Street, north of its junction with Exchange Street within the town of Jedburgh.

The towns high street hosts a historic row of charming character stone-built properties lining the road to the Old Castle. The town of Jedburgh is justifiably known as the ‘Jewel of the Borders’ and has a great community spirit with a variety of well supported independent shops, restaurants, cafes, a swimming pool & fitness centre, Community & Arts Centre, two primary schools and local Grammar. The historical Royal Burgh of Jedburgh lies ten miles north of the border with England and is well situated with swift road links to both major airports at Edinburgh and Newcastle, and the main East Coast railway line is 35 miles distant at Berwick upon Tweed. Ideal for a commuter lying just off the A68 providing easy travel to further Border towns and recently opened Borders railway is 25 minutes away.

Subjects

The subjects comprise a ground floor mid-terrace retail unit set within a 3 storey stone development of traditional construction. The subjects offer twin, timber framed display windows which flank the recessed entranceway, with access gained via a timber & glass door.

Internally the subjects have been fit out to Ladbrokes corporate specification with floors having been overlaid in laminated timber, walls have been plastered and painted with lighting provided by way of halogen spots and fluorescent strips recessed within the acoustic tile ceiling.

Partitions have been erected to form customer W.C, secure counter area along with office & tea prep area.

Executive Summary

The subjects are let on a full repairing and insuring lease on the following terms:

Tenant: Ladbrokes Limited
Expiry: 18th July 2021
Rent: £7,800per annum

Tenant has been in-situ since 2001

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 £2.3 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 of £105,000 representing a Gross Initial Yield of 7.4% before purchasers costs.

E.P.C

Available on request

V.A.T

Price quoted is exclusive of V.A.T. 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
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