New 15 year lease from 29th December 2016 (No Breaks)
Favourable alienation provisions within the lease
Imposing Building comprising circa 11,416 sq ft
Prominent City Centre location close to Pizza Express, RBS Bank and Nationwide Building Society
VAT-free Bank Investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 9
Auction 25th May 2017
Rent £63,650 per Annum Exclusive
Status Sold
Price £1,100,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles north of Lake District National Park, 60 miles west of Newcastle upon Tyne
Roads
A7, A69, A595, A689, M6 (Junction 43)
Rail
Carlisle Railway Station
Air
Newcastle International Airport
Situation
Carlisle is an historic University City and the commercial and administrative centre for Cumbria.
The property is located on the eastern side of Lowther Street, opposite Devonshire Street which connects to English Street, in the heart of the City Centre. The Lanes Shopping Centre is located
nearby, with occupiers including Debenhams, JD Sports, Next and New Look. Other nearby
occupiers include Pizza Express, Boots the Chemist, WH Smith, River Island and branches of
RBS, NatWest, HSBC and Barclays Banks.
Tenure
Freehold.
Location
Miles
12 miles north of Lake District National Park, 60 miles west of Newcastle upon Tyne
Roads
A7, A69, A595, A689, M6 (Junction 43)
Rail
Carlisle Railway Station
Air
Newcastle International Airport
Situation
Carlisle is an historic University City and the commercial and administrative centre for Cumbria.
The property is located on the eastern side of Lowther Street, opposite Devonshire Street which connects to English Street, in the heart of the City Centre. The Lanes Shopping Centre is located
nearby, with occupiers including Debenhams, JD Sports, Next and New Look. Other nearby
occupiers include Pizza Express, Boots the Chemist, WH Smith, River Island and branches of
RBS, NatWest, HSBC and Barclays Banks.
Tenure
Freehold.
Description
The property is Grade II listed and comprises a ground floor banking hall, with basement ancillary
accommodation and office/ancillary accommodation on the first floor and second floors, part of which is sublet to a recruitment office.
VAT
VAT is not applicable to this lot.
Note
The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a
company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is Grade II listed and comprises a ground floor banking hall, with basement ancillary
accommodation and office/ancillary accommodation on the first floor and second floors, part of which is sublet to a recruitment office.
VAT
VAT is not applicable to this lot.
Note
The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a
company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.
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
Reviews
Ground Basement Part First - Rear Part First - Front (sublet) Second
15 years from 29/12/2016 until 28/12/2031 on a full repairing and insuring lease
£63,650
29/12/2021 29/12/2026
Totals
1060.58 sq m
(11,416 sq ft)
£63,650
(1) For the year ending 31st December 2016, Lloyds Bank Plc reported pre-tax profits of £1,977,000,000 and a total net worth of £47,806,000,000 (Source: Experian Group 25/04/2017). (2) Part of the first floor offices at the front of the building are sublet to Hays Specialist Recruitment Limited at a sublet rent of £8,500 p.a.x. Two basement storerooms are sublet to D.M. Ward on a long lease at a peppercorn rent.
