5 - 7 Bangor Street
Caernarfon
Gwynedd
LL55 1AE

Freehold Bank Investment

  • Majority let to Barclays Bank Plc
  • Barclays lease expires in 2028 (subject to option)
  • Recently refurbished offices on first floor
  • Potential to convert first floor to residential (subject to planning and consents)
  • Historic Royal town with famous castle
  • VAT-free bank investment
  • Lot
    26
  • Auction
    07/Dec/2017
  • Rent
    £11,700 per Annum
  • Status
    Sold
  • Price*
    £155,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 5 - 7 Bangor Street<br>Caernarfon<br>Gwynedd<br>LL55 1AE
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Property Information

Location
Miles
7 miles south-west of Bangor, 24 miles south-west of Colwyn Bay
Roads
A487, A4086
Air
Liverpool John Lennon Airport
Situation

Caernarfon is an historic Royal town on the eastern shore of the Menai Strait, famous for its breathtaking castle. The property is prominently situated on the western side of Bangor Street, which connects to Eastgate Street and North Penrallt, in the heart of the town centre. JD Wetherspoon occupy a public house nearby, with Costa, Iceland and Peacocks amongst other national retailers also represented within the town.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with basement ancillary accommodation storage and recently refurbished self-contained offices on the first floor, accessed from Bangor Street.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

Buyer's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground

Basement
Banking
Hall/Ancillary
Ancillary
99.18 sq m

43.10 sq m
(1,068 sq ft)

(464 sq ft)
BARCLAYS BANK
PLC (1)
20 years from
21/05/2008 until
20/05/2028 (2)
£11,70025/03/2019
25/03/2024
FirstOffices
77.73 sq m
(837 sq ft)
VACANT---
Totals
220.01 sq m
(2,369 sq ft)
  £11,700 

(1) For the year ending 31st December 2016, Barclays Bank Plc reported pre-tax profits of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 30/10/2017).
(2) The lease provides for a tenant option to determine in May 2023.

Property Documents

  • Site Plan
    Updated Date
    14.11.17
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    14.11.17
    File Size
    612 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Seller's Solicitors
WBW Solicitors Church House, Queen Street
Newton Abbot
Devon
TQ12 2QP
Tracey Pearce 01626 202 414traceypearce@wbw.co.uk

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