Entirely let to Bank of Scotland Plc - part of Lloyds Banking Group Plc
New 15 year lease from 29th December 2016 (No Breaks)
Favourable alienation provisions within the lease
Prominent town centre location with Boots the Chemist, WHSmith and Greggs closeby
VAT-free Bank Investment in popular Tourist Seaside Town
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 21
Auction 25th May 2017
Rent £26,300 per Annum Exclusive
Status Sold Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
14 miles south-west of St Andrews, 36 miles north-east of Edinburgh City Centre
Roads
A92, A915
Air
Edinburgh Airport
Situation
Leven is home to the famous Leven Links Golf Club which was founded in 1846, making it one of the oldest golf clubs in the world. Leven is also home to one of the largest grain distillery and bottling facilities in the world. The property is located in a prominent trading location on the western side of the pedestrianised High Street, the town's principal retailing thoroughfare. Nearby occupiers include Boots the Chemist, WHSmith, Greggs, Poundland, Specsavers and Iceland. South Street Car Park is located nearby and provides car parking for over 110 cars and the town's bus station is in easy walking distance.
Tenure
Heritable.
Location
Miles
14 miles south-west of St Andrews, 36 miles north-east of Edinburgh City Centre
Roads
A92, A915
Air
Edinburgh Airport
Situation
Leven is home to the famous Leven Links Golf Club which was founded in 1846, making it one of the oldest golf clubs in the world. Leven is also home to one of the largest grain distillery and bottling facilities in the world. The property is located in a prominent trading location on the western side of the pedestrianised High Street, the town's principal retailing thoroughfare. Nearby occupiers include Boots the Chemist, WHSmith, Greggs, Poundland, Specsavers and Iceland. South Street Car Park is located nearby and provides car parking for over 110 cars and the town's bus station is in easy walking distance.
Tenure
Heritable.
Description
The property comprises a double fronted bank, with offices and ancillary accommodation on the first floor. The property benefits from four car parking spaces to the rear.
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 company 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 a guarantee in standard Scottish PSG terms if consenting to an assignation to anyone other than the foregoing.
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 double fronted bank, with offices and ancillary accommodation on the first floor. The property benefits from four car parking spaces to the rear.
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 company 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 a guarantee in standard Scottish PSG terms if consenting to an assignation to anyone other than the foregoing.
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 First
Banking Hall/Ancillary Offices/Ancillary
195.75 sq m 81.01 sq m
(2,107 sq ft) (872 sq ft)
BANK OF SCOTLAND PLC (1)
15 years from 29/12/2016 until 28/12/2031 on a full repairing and insuring lease
£26,300
29/12/2021 and 29/12/2026
Totals
276.76 sq m
(2,979 sq ft)
£26,300
(1) Bank of Scotland was founded in 1695 and is Scotland's oldest bank. In 2009, it was acquired by Lloyds TSB, with the new entity named as Lloyds Banking Group. The acquisition created the largest retail bank in the UK. For the year ending 31st December 2016, Bank of Scotland Plc reported pre-tax profits of £3,395,000,000 and total assets of £7,352,000,000 (Sources: www.bankofscotland.co.uk and www.lloydsbankinggroup.com 26/04/2017).
