Property Auctions 22/Oct/2015 | Santander, 9 / 11 King Street, Huddersfield, West Yorkshire, HD1 2ER

Prime Bank Investment

Entirely let to Santander UK plc
Tenant recently completed substantial alterations to enable occupation of the first and second floors
Situated opposite Marks & Spencer and The Piazza Shopping Centre
Other nearby occupiers include Boots, WH Smith, BHS and Caffè Nero
VAT free Investment
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 19
Auction 22nd October 2015
Rent £140,000 per Annum Exclusive
Status Sold
Price £1,620,000
Sector
Bank
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Legal & General

Property Information

Location

Miles: 15 miles south-west of Leeds, 25 miles north-east of Manchester, 26 miles north-west of Sheffield
Roads: A62, A640, A629, M62 (Junctions 23/24)
Rail: Huddersfield Railway Station
Air: Leeds Bradford Airport

Situation

The property is prominently situated in the heart of the town centre, on the north side of pedestrianised King Street at its junction with Market Walk, opposite Marks & Spencer. The property is also situated opposite The Piazza Shopping Centre, housing occupiers including Boots, WH Smith, BHS and Argos. The Kingsgate Shopping Centre, anchored by House of Fraser, is located close by, as are retailers including Morrisons, Caffè Nero, KFC, Costa and HSBC Bank.

Tenure

Virtual Freehold. Virtual Freehold. Held by way of two 999 year leases from 25th March 1898 and 29th September 1941, each at a rent of £50 per annum.

Location

Miles: 15 miles south-west of Leeds, 25 miles north-east of Manchester, 26 miles north-west of Sheffield
Roads: A62, A640, A629, M62 (Junctions 23/24)
Rail: Huddersfield Railway Station
Air: Leeds Bradford Airport

Situation

The property is prominently situated in the heart of the town centre, on the north side of pedestrianised King Street at its junction with Market Walk, opposite Marks & Spencer. The property is also situated opposite The Piazza Shopping Centre, housing occupiers including Boots, WH Smith, BHS and Argos. The Kingsgate Shopping Centre, anchored by House of Fraser, is located close by, as are retailers including Morrisons, Caffè Nero, KFC, Costa and HSBC Bank.

Tenure

Virtual Freehold. Virtual Freehold. Held by way of two 999 year leases from 25th March 1898 and 29th September 1941, each at a rent of £50 per annum.

Description

The property comprises a ground floor banking hall with ancillary accommodation in the basement and office and ancillary accommodation on the first and second floors. The third floor is not currently used by the tenant. The property benefits from a return frontage to pedestrianised Market Walk.
The tenant has recently completed substantial alterations to the property to enable them to additionally occupy the first and second floors, which were previously let to a gym operator.

Six Week Completion (subject to landlord's consent to assign)

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 block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore.
Email: will.moore@acuitus.co.uk

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor banking hall with ancillary accommodation in the basement and office and ancillary accommodation on the first and second floors. The third floor is not currently used by the tenant. The property benefits from a return frontage to pedestrianised Market Walk.
The tenant has recently completed substantial alterations to the property to enable them to additionally occupy the first and second floors, which were previously let to a gym operator.

Six Week Completion (subject to landlord's consent to assign)

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 block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore.
Email: will.moore@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	Reversion
Basement Ground First Second Third	Ancillary Banking Hall Offices/Ancillary Offices/Ancillary Ancillary	139.63 sq m 231.32 sq m 214.60 sq m 219.06 sq m 199.38 sq m	(1,503 sq ft) (2,490 sq ft) (2,310 sq ft) (2,358 sq ft) (2,146 sq ft)	SANTANDER UK PLC (1)	Approx 10 years and 8 months from 21/04/2010 on a full repairing and insuring lease	£140,000	31/12/2020
Totals		1,003.99 sq m	10,807 sq ft)			£140,000

(1) For the year ending 31/12/2014, Santander UK Plc reported pre-tax profits of £1,399,000,000 and a total net worth of £12,006,000,000. (Source: www.experian.com 14/09/2015)