WELL SECURED FREEHOLD LEISURE INVESTMENT OPPORTUNITY £3.3m REFLECTING AN ATTRACTIVE NET INITIAL YIELD OF 12%

MECCA DOUGLASFIELD, DUNDEE, DD4 8JX MECCA BINGO, DOUGLASFIELD, DUNDEE, DD4 8JX

Investment Summary

• Purpose built, modern bingo hall

• Located within the Kingsway East Leisure Park where tenants include a 10 screen Odeon cinema and Energie Fitness Club

• Single let to Mecca Bingo Ltd (part of who are listed on the FTSE 250)

• Current passing rent of £421,421 per annum (£11.93 per sq ft)

• Heritable Title

• Totalling 35,337 sq ft GIA with a 3.37 acre site providing car parking for 223 vehicles

• Long term potential to redevelop the site

• The Vendor is seeking offers in excess of £3.3 million (Three Million, Three Hundred Thousand Pounds), subject to contact, for the benefit of the heritable title in the property. The price reflects anet initial yield of 12% after allowing for purchaser’s costs of 6.48%.

MECCA BINGO, DOUGLASFIELD, DUNDEE, DD4 8JX

L O ROAD NG TH RUMGEI 961 D H B

A

UGH

R

D Location and Situation

D A

O

R Dundee is the fourth largest city in Scotland. It is located on the east coast of H T I Scotland and lies on the north bank of the Firth of Tay. Dundee is approximately E ICELAND G M

U 35 miles east of Perth, 63 miles north of Edinburgh and 68 miles south of Aberdeen. R D

E IE DRIV Dundee is well connected by the A90 to Aberdeen in the north and Perth to the UN L BA south which in turn leads to the M90. Dundee is also connected to St Andrews

H SUBJECT PROPERTY AP 1 immediately to the south via the A92. Dundee boasts its own airport and East Coast PY 6 HI 9 LLOCK ROAD B HAPPYH Mainline train station with direct links to London Kings Cross. ILLOCK ROAD

B The property is located approximately 3 miles to the north east of the city centre on ALUNIE DRIVE

THE FUN the Kingsway East Leisure Park. Immediate neighbours include a 10 screen Odeon FACTORY

Cinema and Energie Leisure Club. Access to the property is directly off the B961 AD ODEON CINEMA O A94 R

(Douglas Road). S A MEIGLE KIRKBUDDO L UG BALUNIE AVENUE O A90 D

SPA

A928

1 6

B9

AUCHTERHOUSE WELLBANK

A92 K BALLINDEAN ROAD ING MCDONALD’S DOUGLASFIELD SW AY D E A A923 O R CARNOUSTIE ASDA BIRKHILL MILTON OF CRAIGIE S A90 A RETAIL PARK L K G I N U MONIFIETH G A90 A92 S O D W A Y A923 E

DUNDEE INVERGOWRIE

A90 TAYPORT

INCHTURE DUNDEE NEWPORT-ON-TAY

A92 A914

GAULDRY

LEUCHARS

A914 A92

A91 DUNBOG A91 ST ANDREWS CUPAR MECCA BINGO, DOUGLASFIELD, DUNDEE, DD4 8JX

Description

The property is a purpose built, modern bingo hall sitting on a 3.37 acre site with 223 surface car parking spaces. The property is of steel frame construction, with a pitched metal sheet roof. The main entrance features a raised, prominent front with decorative canopy. The main elevations are of brick construction with cladding above.

The main entrance leads into the entrance lobby which has a slot machine area behind and provides access into the bingo hall. The main hall is fitted out in Mecca’s typical corporate style with carpeted floors and a suspended ceiling. There is seating for approximately 1,420 people. There is a food servery, kitchen, bar and WC’s. At first floor level there is a staff room, training room and managers office.

Tenure

The property is held heritable title.

Accommodation

The subject property provides approximately 3,281 sq m (35,337 sq ft) of gross internal accommodation as set out in the schedule below.

Description Use Sq m GIA Sq ft GIA 1st Floor Plant 138 1,487 1st Floor Ancillary 299 3,227 Ground Floor Trading 2,844 30,623 Total 3,281 35,337 MECCA BINGO, DOUGLASFIELD, DUNDEE, DD4 8JX

134 138

140 to 170 132 136 Covenant Information

236 to 266 Mecca Bingo Ltd is a wholly owned subsidiary of the Rank Group who are a British HAPP YHILL OCK and leisure company which incorporates the brands Mecca Bingo and . In ROAD S helter the UK the company operates 55 casinos and 98 bingo halls with over half a million customers

75 ESS each year together with online gambling and betting. The Rank Group is listed on the London

77 to 107 Stock Exchange and is a constituent of the FTSE 250 index.

ap

py Hi 3 l 4 loc k Walk

For the year ending 30th June 2016 Mecca Bingo Ltd reported a turnover of £209.54m, pre

4

4 El 6 3 tax profits of £36.66m and a net worth of £488.34m. Sub Sta

0

1 67

6 61 1 The Factory Skatepark

Tenancy and Income

The property is single let on an FRI lease to Mecca Bingo Ltd until 28th September 2021. The passing rent is £421,421 per annum equating to £11.93 per sq ft. The lease is subject to a schedule of condition. The tenant has an option to renew upon expiry of their lease for a new term at market rent.

Planning

The property has D2 consent and is not listed nor located in a conservation area The tenant has a premises licence which allows the bingo club to open daily from 10:00 – 00:00. The sale of alcohol is permitted during this time. MECCA BINGO, DOUGLASFIELD, DUNDEE, DD4 8JX

VAT Proposal

The property is not elected for VAT. The Vendors is seeking offers in excess of £3.3 million (Three Million, Three Hundred Thousand Pounds), subject to contact, for the benefit of the heritable EPC title in the property. The price reflects a net initial yield of 12% after allowing for The property has an EPC rating of G. purchaser’s costs of 6.48%.

Further Information

Should you wish to view the property or require any further information please contact the agents:

Jamie Baruch Stephen Raingold Tydus Real Estate Lewis & Partners DD: 020 3903 7310 DD: 0207 580 4333 Mob: 07889 085 112 Mob: 07775 647 499 [email protected] [email protected]

Will Elphinstone Joseph Rantor Tydus Real Estate Lewis & Partners DD: 020 3904 3573 [email protected] Mob: 07876 131 346 DD: 0207 580 4333 [email protected] Mob: 07976 599 374

MISREPRESENTATION ACT 1967. Tydus Real Estate for themselves and for the vendors or lessors of the property whose agents they are give notice that: (i) these particulars are given without responsibility of Tydus Real Estate or the vendors or lessors as a general outline only for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) Tydus Real Estate cannot guarantee the accuracy of any descriptions, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) no employee of Tydus Real Estate (and their joint agents where applicable) has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on purchase price and/or rent, all figures are quoted exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) except in respect of death or personal injury caused by the negligence of Tydus Real Estate, its employees or servants, Tydus Real Estate will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently. 09/2017. Designed and produced by Creativeworld Tel: 01282 858200.