8/10 Southgate is of traditional brick construction under a pitched slate roof and comprises a corner retail unit providing ground floor retail sales accommodation, with ancillary accommodation at basement level. The upper floors of the building are separately occupied by the Old Cock Public House and are not included within our client’s ownership. It is let to Greggs plc at a current rent of £27,500 pax on a 3 year FRI lease from 11th January 2021, expiring 10th January 2024. The passing rent devalues to £39.47 Zone A. The previous passing rent was £38,000 pax.
12/16 Southgate is of traditional brick construction under a pitched slate roof and provides accommodation on ground and three upper floors. The ground and first floors are both used for retail sales and have been fitted out by Caffe Nero in their normal corporate style. The second floor is used as staff, office and food preparation with the third floor and basement being unused. It is let to Nero Holdings Ltd at a current rent of £30,000 pax on a 5 year FRI lease from 20th August 2021, expiring 19th August 2026. The passing rent devalues to £35.00 Zone A. The previous passing rent was £42,500 pax.