Entirely let to Bank of Scotland Plc - part of Lloyds Banking Group Plc
New 15 year lease from 27th June 2017 until June 2032 (no breaks)
Favourable alienation provisions within the lease
Large site to rear with parking for about 8 cars
Prominent pedestrianised town centre location opposite Grays Shopping Centre and Boots the
Chemist
VAT-free Bank Investment
Lot 5
Auction 19th October 2017
Rent £47,000 per Annum Exclusive
Status Sold
Price £907,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
9 miles north-east of Dartford, 23 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation
Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.
Tenure
Freehold.
Location
Miles
9 miles north-east of Dartford, 23 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation
Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.
Tenure
Freehold.
Description
The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.
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.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.
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.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
15 years from 27/06/2017 until 26/06/2032 on a full repairing and insuring lease
£47,000
26/06/2022 and 26/06/2027
Total
489.00 sq m
(5,264 sq ft)
£47,000
(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 a total net worth of £13,338,000,000 (Sources: www.bankofscotland.co.uk and Experian Group 18/08/2017). (2) 46 High Street has been sublet to Dr Han Chinese Medicine.
