78 New George Street Plymouth Devon PL1 1EF

78 New George Street
Plymouth
Devon
PL1 1EF

Well Located Bank Investment

  • Entirely Let to Santander UK Plc on Recent Lease Renewal
  • Pedestrianised City Centre Location
  • Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland
  • Rent: £145,000 p.a.x. (gross) £131,225 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    63
  • Auction
    19th May 2016
  • Rent
    £145,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £935,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Well Located Bank Investment

  • Entirely Let to Santander UK Plc on Recent Lease Renewal
  • Pedestrianised City Centre Location
  • Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland
  • Rent: £145,000 p.a.x. (gross) £131,225 p.a.x. (net)
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 63
  • Auction 19th May 2016
  • Rent
  • Status Sold
  • Price £935,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation

The property is prominently situated in the heart of the city centre on the northern side of New George Street, one of the towns principal pedestrianised retail thoroughfares. Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland.

Tenure

Long Leasehold. Held from Plymouth City Council for a term of 125 years from 29/03/1996 until 28/03/2121 at a rent of £13,775 p.a. reviewed to 9.5% of the rent paid by the occupational tenant.

Location
Miles
7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation

The property is prominently situated in the heart of the city centre on the northern side of New George Street, one of the towns principal pedestrianised retail thoroughfares. Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland.

Tenure

Long Leasehold. Held from Plymouth City Council for a term of 125 years from 29/03/1996 until 28/03/2121 at a rent of £13,775 p.a. reviewed to 9.5% of the rent paid by the occupational tenant.

Description

The property comprises a ground floor banking hall with ancillary accommodation on the basement, first and second floors.

Six Week Completion

VAT

VAT is applicable to this lot.

Viewings

There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.

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 on the basement, first and second floors.

Six Week Completion

VAT

VAT is applicable to this lot.

Viewings

There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.

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 (Reversion)
Ground Banking Hall 188.06 sq m (2,024 sq ft) SANTANDER
UK PLC (1)
Approx.4 years 9 months
from 25/03/2016 on a full repairing and insuring lease
(2)
£145,000 31/12/2020
Basement Ancillary 8.26 sq m (89 sq ft)
First Ancillary 128.23 sq m (1,380 sq ft)
Second Ancillary 166.84 sq m (1,796 sq ft)
Total   491.89 sq m (5,289 sq ft)     £145,000

(1) For the year ending 31st December 2015 Santander UK Plc reported pre-tax profits of £1,345,000,000 and a total net worth of £13,279,000,000. (Source: Experian Group 18/04/2016)
(2) Santander previously occupied the property on a 25 year lease

Property Documents

  • Catalogue Page
    Updated Date
    31.10.19
    File Size
    652 KB
    View PDF
  • Site Plan
    Updated Date
    31.10.19
    File Size
    45 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays
Sheffield
S2 5SY
Carol Davies 0114 279 4003Carol.Davies@cms-cmno.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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