Overview

LEASE FOR SALE

The premises are arranged over ground floor only and provide the following approximate dimensions and areas: Tenure The property is available by way of an assignment of an existing 10 year full repairing and insuring lease expiring in June 2026.  The next rent review is June 2021.  The lease is contracted outside the Security of Tenure provisions of the Landlord and Tenant Act 1954 Part II as amended. There is a landlord rolling break from March 2021, subject to 6 months' prior written notice. Rent £700,000 per annum exclusive of rates, service charge and VAT. Incentives Substantial incentives available, subject to covenant. Rates We are verbally informed by the Local Rating Authority that the premises are currently assessed as follows:     No 59: Rateable Value - £362,500  :  Rates Payable - £189,950     No 61: Rateable Value - £315,000  :  Rates Payable - £165,060 The UBR for 2019/2020 is 52.4p. Interested parties are advised to make their own enquiries with the Local Authority for verification purposes.
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Location Description

Piccadilly Circus is one of London's most popular tourist destinations, home to the iconic Piccadilly Lights (screens) and the statue of Eros.  The shop is situated on the southern end of Regent Street, close to Piccadilly Circus Underground Station (Piccadilly and Bakerloo Lines). Numerous bus routes pass the premises.  The unit is directly opposite the Hotel Cafe Royal and adjacent to Jimmy Fairly.  Other retailers in the vicinity include Whittard, Coccinelle, Barbour, Hunter Shoes, Lotus Original, L'Occitane and Stefanel.

Sizes and Measurements

Total Size

1,650sqft

Sales Area

1,650sqft

Floors Available

Ground Floor

Details

Retail Ground Floor

Size

1,650sqft

Status

Available

Available from

Now

Lease Information & Charges

Lease End

22/06/2026

Next Rent Review

23/06/2021

Rent Review Cycle

5

Lease type

Assignment

For rent

£700,000/pa

Floorplan

LONDON - 59-61 REGENT STREET

Photos

LONDON - 59-61 REGENT STREET