Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
25 miles east of Stranraer, 48 miles west of Dumfries
Roads
A75
Rail
Stranraer
Air
Prestwick International Airport
Situation
Newton Stewart is a busy market town in the Dumfries & Galloway Region of south-west Scotland. The property is prominently situated on the western side of Victoria Street, the main retailing street in Newton Stewart. Nearby occupiers include Boots the Chemist, Clydesdale Bank and Cooperative Food.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Location
Miles
25 miles east of Stranraer, 48 miles west of Dumfries
Roads
A75
Rail
Stranraer
Air
Prestwick International Airport
Situation
Newton Stewart is a busy market town in the Dumfries & Galloway Region of south-west Scotland. The property is prominently situated on the western side of Victoria Street, the main retailing street in Newton Stewart. Nearby occupiers include Boots the Chemist, Clydesdale Bank and Cooperative Food.
Tenure
Heritable. (Scottish Equivalent of English Freehold).
Description
The property comprises a traditional detached bank building arranged over ground floor, first and second floors. The ground floor is self contained and comprises a banking hall and ancillary accommodation. The first and second floor are separately accessed from the front of the property and are fitted out as
offices. The building is B listed.
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 available here.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing for this property. All interested parties must register their details with the Auctioneers prior to the viewing date and provide identification on site. Please contact Mhairi Jarvis. Email: mhairi.jarvis@acuitus.co.uk
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a traditional detached bank building arranged over ground floor, first and second floors. The ground floor is self contained and comprises a banking hall and ancillary accommodation. The first and second floor are separately accessed from the front of the property and are fitted out as
offices. The building is B listed.
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 available here.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing for this property. All interested parties must register their details with the Auctioneers prior to the viewing date and provide identification on site. Please contact Mhairi Jarvis. Email: mhairi.jarvis@acuitus.co.uk
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
Banking Hall
146.69 sq m
(1,579 sq ft)
NATIONAL WESTMINSTER BANK PLC (1)
Approx 21 years from 09/06/2005 until 24/06/2026 (2)
£8,000
24/06/2020 24/06/2025
First
Office
111.85 sq m
(1,204 sq ft)
FIRM OF GM THOMSON SURVEYORS (3)
5 years from 28/11/2013 to 27/11/2018
£6,015
Second
Office
102.84 sq m
(1,107 sq ft)
VACANT POSSESSION
Totals
361.38 sq m
(3,890 sq ft)
£14,015
1) National Westminster Bank plc is a wholly owned subsidiary of Royal Bank of Scotland plc who have a market capitalisation rate of £43 billion and are 31% owned by HM Government (Source: www.natwest.com and www.rbs.com). We understand the bank have been in occupation of the property for over 20 years. (2)National Westminster Bank plc have an option to extend their lease by 20 years at the expiry date on giving the landlord 6 months’ notice. (3)Trading as GM Thomson and Co, who we understand have been in occupation of the property for over 30 years. GM Thomson and Co are a leading independent property consultant established in 1953 with offices in Dumfries, Castle Douglas and Newton Stewart. (www.gmthomson.co.uk)
