Disclosed Reserve £1,090,000 (7.50% Gross Initial Yield) This property will not be sold prior to auction
Let to Lloyds Bank plc until June 2026 (no breaks)
Prominent pedestrianised town centre location
Tenant renewed lease for a further 15 years from 2011
Nearby occupiers include Barclays, Boots, New Look, Iceland and Halifax
No VAT payable
Six Week Completion
Lot 9
Auction 9th July 2014
Rent £81,500 per Annum Exclusive
Status Sold
Price £1,100,000
Sector Bank
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of a Major Pension Fund
Property Information
Location
Miles
15 miles north-east of Worcester
15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Rail Station (links to Birmingham New Street and London Euston)
Air
Birmingham International Airport
Situation
The property is situated in a prominent trading location on the east side of the pedestrianised High Street at its junction with Chapel Street. Nearby occupiers include Barclays, Boots, New Look, Iceland, Halifax and Santander.
Bromsgrove Town Centre is currently undergoing a regeneration programme to enhance the historic heritage of the town which includes repaving the High Street and pedestrian areas of the town. (Source: www.bromsgrove.gov.uk)
Tenure
Freehold.
Location
Miles
15 miles north-east of Worcester
15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Rail Station (links to Birmingham New Street and London Euston)
Air
Birmingham International Airport
Situation
The property is situated in a prominent trading location on the east side of the pedestrianised High Street at its junction with Chapel Street. Nearby occupiers include Barclays, Boots, New Look, Iceland, Halifax and Santander.
Bromsgrove Town Centre is currently undergoing a regeneration programme to enhance the historic heritage of the town which includes repaving the High Street and pedestrian areas of the town. (Source: www.bromsgrove.gov.uk)
Tenure
Freehold.
Description
The property comprises a bank arranged on the ground, first, second and third floors. The property benefits from a return frontage to Chapel Street and car parking to the rear for approximately 14 cars.
VAT
VAT is not applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a bank arranged on the ground, first, second and third floors. The property benefits from a return frontage to Chapel Street and car parking to the rear for approximately 14 cars.
VAT
VAT is not applicable to this lot.
Viewings
Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
(1) For the year ending 31/12/2013, Lloyds Bank Plc reported pre-tax profits of £894,000,000 and a total net worth of £34,109,000,000. (Source: www.riskdisk.com 12/06/2014).
