WILLIAM HILL BOOKMAKERS TAKE A PUNT AT 92 GRANBY STREET, LEICESTER

Retail News

Acting on behalf of a private investor, Fisher Hargreaves Proctor has let 92 Granby Street, Leicester to William Hill on a new 20 year full repairing and insuring lease at a rental of £36,000 per annum subject to a 3 months initial rent free period.

The premises contain a ground floor sales area of 2,778ft² together with upper floor ancillary accommodation and was previously occupied by a local camping retailer who went into administration.

Mark Bradley of FHP who handled the transaction on behalf of the landlord commented:-

“Following the demise of the former tenant, we approached various selected occupiers whom we considered would be suitable for this location, including bookmakers, and a deal was reached fairly quickly with William Hill who recognised the opportunity of this location being close to a Wetherspoons public house.  We also advised the client that A2 use was likely to be granted for betting shop use which proved to be case and the transaction was completed immediately upon receipt of planning permission and the grant of a betting licence.

The value of our client’s investment has also substantially improved due not only to the increase in rent achieved but also the quality of the covenant of the tenant.”