Yorkshire Bank 46 High Street Stockton-On-Tees TS18 1SB

Yorkshire Bank
46 High Street
Stockton-On-Tees
TS18 1SB

Freehold Bank Investment

  • Entirely let to Clydesdale Bank Plc t/a Yorkshire Bank
  • 10 year lease renewal until 2026 (subject to option) at a re-based rent
  • Tenant in occupation since at least 1999
  • Adjacent to Castlegate Shopping Centre which houses retailers including Peacocks, Specsavers, Boots the Chemist, Iceland and Poundland and Poundworld
  • Prominent town centre corner location
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    77
  • Auction
    7th July 2016
  • Rent
    £43,250 per Annum Exclusive
  • Status
    Sold
  • Price
    £485,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Bank Investment

  • Entirely let to Clydesdale Bank Plc t/a Yorkshire Bank
  • 10 year lease renewal until 2026 (subject to option) at a re-based rent
  • Tenant in occupation since at least 1999
  • Adjacent to Castlegate Shopping Centre which houses retailers including Peacocks, Specsavers, Boots the Chemist, Iceland and Poundland and Poundworld
  • Prominent town centre corner location
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 77
  • Auction 7th July 2016
  • Rent
  • Status Sold
  • Price £485,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On behalf of Receivers CBRE

Property Information

Location
Miles
13 miles north-west of Darlington, 24 miles south-east of Durham, 35 miles south of Newcastle Upon Tyne
Roads
A1046, A19, A1032
Rail
Stockton Railway Station
Air
Durham Tees Valley International Airport
Situation

The property occupies a prominent corner position fronting both High Street and Finkle Street. The property is adjacent to Castlegate Shopping Centre housing retailers including Peacocks, Specsavers, Boots the Chemist, Iceland and Poundland and Poundworld. Other nearby occupiers include Natwest, HSBC New Look and River Island.

Tenure

Freehold.

Location
Miles
13 miles north-west of Darlington, 24 miles south-east of Durham, 35 miles south of Newcastle Upon Tyne
Roads
A1046, A19, A1032
Rail
Stockton Railway Station
Air
Durham Tees Valley International Airport
Situation

The property occupies a prominent corner position fronting both High Street and Finkle Street. The property is adjacent to Castlegate Shopping Centre housing retailers including Peacocks, Specsavers, Boots the Chemist, Iceland and Poundland and Poundworld. Other nearby occupiers include Natwest, HSBC New Look and River Island.

Tenure

Freehold.

Description

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

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Viewings

There will be a single block viewing for this property on 30th June 2016 at 3.30 p.m. Interested parties must register their details with the Auctioneers by 27th June 2016 and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

Completion Period

Six Week Completion

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 office and ancillary accommodation on the first and second floors and basement.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Viewings

There will be a single block viewing for this property on 30th June 2016 at 3.30 p.m. Interested parties must register their details with the Auctioneers by 27th June 2016 and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

Completion Period

Six Week Completion

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
Basement
First
Second
Banking Hall/Ancillary
Ancillary
Office/Ancillary
Ancillary
306.20 sq m
110.64 sq m
152.26 sq m
140.65 sq m
(3,296 sq ft)
(1,191 sq ft)
(1,639 sq ft)
(1,514 sq ft)
CLYDESDALE
BANK PLC (1)
(t/a Yorkshire
Bank)
10 years from
2016 on a full
repairing and
insuring lease (2)
£43,250 (2) 2021
(2026)
Totals  
709.75 sq m
(7,640 sq ft)
    £43,250 (2)

(1) Founded in Glasgow in 1838, Clydesdale Bank plc is one of the largest banks in Scotland. Yorkshire Bank is a trading name of Clydesdale Bank plc and joined the Group in 1990, operating from over 150 branches and 22 business and private banking centres in the UK (Source: www.cybg.com).
(2) The tenant is currently holding over on a 15 year lease from 5th October 1999 at a rent of £66,750 p.a.x. Terms have been agreed for a new 10 year lease at a rent of £43,250 p.a.x with a rent review on the 5th anniversary of the term and is in solicitor’s hands due to complete imminently. The lease will be subject to a tenant option to determine on the 5th anniversary of the term.

Property Documents

  • Site Plan
    Updated Date
    30.10.19
    File Size
    262 KB
    View PDF
  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    500 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
Walker Morris LLP Kings Court, 12 King Street
Leeds
LS1 2HL
Austin Judson 0113 283 2500austin.judson@walkermorris.co.uk

Useful Links

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

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