Let to Barclays Bank Plc until July 2027 (subject to option)
Prominent town centre location
Nearby occupiers include Sainsbury’s Supermarket and branches of NatWest and HSBC banks
Important Rent Review in June 2016
VAT-free investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 1
Auction 19th May 2016
Rent £12,000 per Annum Exclusive
Status Sold
Price £242,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Trustees
Property Information
Location
Miles
9 miles south-west of Bath, 14 miles south of Bristol
Road
A37, A46, A362, A367, M6 (Junction 18)
Air
Bristol Airport
Situation
The property is prominently located on the southern side of The Island, close to its junction with Silver Street and High Street, in the heart of the town centre. Nearby occupiers include Sainsbury's Supermarket, Lloyds Pharmacy and branches of NatWest, HSBC
and TSB banks, amongst a number of independent retailers.
Tenure
Freehold.
Location
Miles
9 miles south-west of Bath, 14 miles south of Bristol
Road
A37, A46, A362, A367, M6 (Junction 18)
Air
Bristol Airport
Situation
The property is prominently located on the southern side of The Island, close to its junction with Silver Street and High Street, in the heart of the town centre. Nearby occupiers include Sainsbury's Supermarket, Lloyds Pharmacy and branches of NatWest, HSBC
and TSB banks, amongst a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with first floor offices and ancillary accommodation.
Six Week Completion
VAT
VAT is not applicable to this lot.
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 first floor offices and ancillary accommodation.
Six Week Completion
VAT
VAT is not applicable to this lot.
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
Review
Ground First
Banking Hall/ Ancillary Office/Ancillary
116.59 sq m 49.24 sq m
(1,255 sq ft) (530 sq ft)
BARCLAYS BANK PLC (1)
20 years from 31/07/2007 until 30/07/2027 (2) on a full repairing and insuring lease (3)
£12,000
24/06/2016 and five yearly thereafter
Totals
165.83 sq m
(1,785 sq ft)
£12,000
(1) For the year ending 31st December 2015, Barclays Bank Plc reported pre-tax profits of £2,841,000,000 and a total net worth of £55,845,000,000 (Source: Experian Group 21/04/2016). (2) The lease is subject to a tenant option to determine on 30th July 2022. (3) The lease is FRI subject to a Schedule of Condition.