We see (thanks Luisa) that the Commodore Cinema and Bingo Hall Leasehold is up for sale next month.
The property leasehold will go to public auction on 18 April 2012 with a guide price of £125,000 – £145,000.
The lease details make fascinating reading and the fact that the income is stated as being generated from four mobile telecoms masts on the roof.
According to the auction site, the property is held under three ground leases. If you’re the successful buyer you’ll get the long leasehold interest of the property as well as being able to collect annual rent from the telecoms companies.
Those leases
Apparently, there has been no record of the ground rent having been collected in recent years, but we love the fact that it’s still listed in old money.
- Lease 1: Period of 899 years from 6th January 1872 at a fixed rent of £15 per annum.
- Lease 2: Period of 2000 years from 6th April 1904 at a fixed rent of £7 and 8 shillings.
- Lease 3: Period of 2000 years (less one day) from 3rd February 1922 at a fixed rent of £23 and 11 shillings.
- Cinema: Let on a lease from 21st January 2004 to 8th November 2124 at a peppercorn rent.
- Bingo Hall: Let on a 125 year lease from 9th November 1999 at a peppercorn rent.
- Aerial One: Let to Airwave 02 Ltd on a 9 year lease from 27th November 2006 on a current rental of £9,480.99 per annum
- Aerial Two: Let to Vodafone Ltd on a 15 year lease from 30 June 1998 on a current rental of £7, 147.85 per annum.
- Aerial Three: Let to 02 (UK) Ltd on a 15 year lease from 8th February 2008 on a current rental of £6,500 per annum.
- Aerial Four: Let to Orange Personal Communications Ltd on a T15 year lease from 4th May 2000 on a current rental of £5,894 per annum.
If you’ve got a bit of spare cash and fancy dabbling in the world of film, check out the auction site
Thanks to Luisa Hillard for the heads up
Image: © Google Streetview
