Freehold Property to buy in Wellingborough

Key points

• Purpose built freehold bowling facility extending to 24,151 sq ft GIA at ground floor plus 60 surface car parking spaces (1.69 acres).
• Entirely let on a FR&I lease to The Original Bowling Company Limited, guaranteed by Hollywood Bowl Group Plc until 12 August 2040. The unexpired lease term is approximately 16.8 years.
• Hollywood Bowl Group Plc have a London Stock Exchange market capitalisation of £432.7 million, and a 5A1 D&B rating which represents a minimum risk of business failure.
• Annual RPI linked rent reviews collared at 2% and capped at 3% per annum. The next rent increase is due on 13 August 2024.
• A low passing rent of £279,784 pa, reflecting £11.58 per sq ft.
• Wellingborough is a substantial market town within Northamptonshire, with a population of c. 56,600 people, located approximately 10 miles (16 km) north east of Northampton and the M1.
• The Hollywood Bowl is in a well established commercial and distribution warehouse location on the Victoria Retail Park, accessed off Whitworth Way and adjacent to the A45 dual carriageway.
• B-38 EPC rating, expiring June 2030.