Renewed 10 year lease until June 2022 (subject to option)
Prominent Town Centre location
Large self-contained flat included within the lease
Neighbouring occupiers include Boots the Chemist, Betfred, NatWest, Heron Foods and Blackheath Library
Lot 44
Auction 23rd October 2014
Rent £22,500 per Annum Exclusive
Status Sold
Price £350,000
Sector Bank
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
6 miles west of Birmingham
4 miles south-west of West Bromwich
9 miles south of Wolverhampton
Roads
A4100, A4034, M5 (Junction 2)
Rail
Rowley Regis
Air
Birmingham International Airport
Situation
The property is prominently situated on the north side of the High Street close to its junction with Beet Street. Neighbouring occupiers include Boots the Chemist, Betfred, NatWest, Heron Foods and Blackheath Library, with Wilkinson and Iceland also nearby. Immediately to the rear of the property is a public pay and display car park.
Tenure
Freehold.
Location
Miles
6 miles west of Birmingham
4 miles south-west of West Bromwich
9 miles south of Wolverhampton
Roads
A4100, A4034, M5 (Junction 2)
Rail
Rowley Regis
Air
Birmingham International Airport
Situation
The property is prominently situated on the north side of the High Street close to its junction with Beet Street. Neighbouring occupiers include Boots the Chemist, Betfred, NatWest, Heron Foods and Blackheath Library, with Wilkinson and Iceland also nearby. Immediately to the rear of the property is a public pay and display car park.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with ancillary accommodation and a self-contained residential flat on the first floor, which is accessed from the rear. The property benefits from a substantial frontage to the High Street and car parking to the rear for approximately 12 cars.
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall with ancillary accommodation and a self-contained residential flat on the first floor, which is accessed from the rear. The property benefits from a substantial frontage to the High Street and car parking to the rear for approximately 12 cars.
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First First
Banking Hall/Ancillary Ancillary Residential
202.30 sq m 83.90 sq m Self-Contained Flat
(2,178 sq ft) (903 sq ft)
LLOYDS BANK PLC (1)
10 years from 24/06/2012 until 2022 on a full repairing and insuring lease (2)
£22,500
24/06/2017
Totals
286.20 sq m
(3,081 sq ft)
£22,500
(1) For the year ending 31/12/2013, Lloyds Bank plc reported pre-tax profits of £894,000,000 and a total net worth of £34,109,000,000. (Source: www.riskdisk.com 19th August 2014) (2)The lease, which was a renewal of a previous lease, provides for a tenant option to determine the lease on 23rd June 2017.