Royal Bank of Scotland and Brothockbank House 2 Brothock Bridge Arbroath Angus DD11 1NG

Royal Bank of Scotland and Brothockbank House
2 Brothock Bridge
Arbroath
Angus
DD11 1NG

Heritable Bank and Office Investment

Let to National Westminster Bank PLC until 2026 and Thorntons Law until 2031 (subject to option)
Prominent position in a busy market town
Large Scottish law firm occupies the upper floors on recently extended lease
Large corner site with car parking
Neighbouring occupiers include Bank of Scotland, Clydesdale Bank and Lidl
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
24
Auction
8th December 2016
Rent
£44,000 per Annum Exclusive
Status
Sold
Price
£470,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Heritable Bank and Office Investment

Let to National Westminster Bank PLC until 2026 and Thorntons Law until 2031 (subject to option)
Prominent position in a busy market town
Large Scottish law firm occupies the upper floors on recently extended lease
Large corner site with car parking
Neighbouring occupiers include Bank of Scotland, Clydesdale Bank and Lidl
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 24
Auction 8th December 2016
Rent £44,000 per Annum Exclusive
Status Sold
Price £470,000
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 15 miles north east of Dundee, 51 miles south of Aberdeen
Roads: A90, M90
Rail: Arbroath Station (1 hour 37 minutes to Edinburgh Waverley)
Air: Dundee Airport (19 miles), Aberdeen Airport (60 miles)

Situation

The property is located in Arbroath town centre in an area of commercial and residential uses. Occupiers in the Brothock Bridge area include Lidl, Bank of Scotland, Home Bargains and Co-operative Food. Abbeygate Shopping Centre is located nearby.

Tenure

Heritable. (Scottish equivalent of English Freehold).

Location

Miles: 15 miles north east of Dundee, 51 miles south of Aberdeen
Roads: A90, M90
Rail: Arbroath Station (1 hour 37 minutes to Edinburgh Waverley)
Air: Dundee Airport (19 miles), Aberdeen Airport (60 miles)

Situation

Tenure

Heritable. (Scottish equivalent of English Freehold).

Description

The property is a modern building planned over basement, ground and two upper floors. The ground floor is fitted out as a banking hall with the basement providing ancillary accommodation. The first and second floors are fitted as offices providing both cellular and open plan space. There is a car park to the rear of the property with approximately 10 car spaces.

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 Mhairi Jarvis.
Telephone: +44 (0)131 552 5191.

Completion Period

Six Week Completion

EPC

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

Description

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 Mhairi Jarvis.
Telephone: +44 (0)131 552 5191.

Completion Period

Six Week Completion

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
Basement Ground Floor	Ancillary Banking Hall	123.14 sq m 219.64 sq m	(1,325 sq ft) (2,364 sq ft)	NATIONAL WESTMINSTER BANK PLC (t/a RBS)	21 years from 09/06/2005 until 23/06/2026 (1)	£19,000	24/06/2020 (2) 24/06/2025
Basement Ground Floor First Floor Second Floor Third Floor	Ancillary Office Office Office Canteen	104.28 sq m 97.71 sq m 264.32 sq m 174.27 sq m 23.35 sq m	(1,122 sq ft) (1,052 sq ft) (2,845 sq ft) (1,872 sq ft) (251 sq ft)	THORNTONS LAW	35 years from 28/05/1986 until 27/05/2031	£25,000	28/05/2021 28/05/2026 (3)
Totals		1,006.71 sq m	(10,836 sq ft)			£44,000

(1) National Westminster Bank Plc have an option to extend their lease by a further 20 years from lease expiry. The tenant has use of 7 car parking spaces at the property.
(2) As to the lease in favour of National Westminster Bank, the lease provides for the rent to be reviewed on 24th June 2020 to the higher of Open Market Rental Value or £20,425 per annum exclusive.
(3) As to the lease in favour of Thorntons Law, the lease provides for the rent to be reviewed to the greater of Open Market Rental Value or increased by 2.5%. The lease also provides for a tenant option to determine the lease on 27th February 2027.