Let to Lloyds Bank Plc with Residential Redevelopment Potential of upper floors (subject to consents)
Approximately 100m from New Milton Railway Station
Affluent town south of the New Forest National Park
2017 tenant option to determine not exercised
Rent review in June 2017
Nearby occupiers include Costa Coffee, Lloyds Pharmacy, Ladbrokes and Morrisons
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 1
Auction 25th May 2017
Rent £23,500 per Annum Exclusive
Status Sold
Price £412,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
11 miles east of Bournemouth, 20 miles south-west of Southampton
Roads
A31, A35, M27, M3
Rail
New Milton Railway Station
Air
Southampton Airport
Situation
New Milton is an affluent town immediately south of the New Forest National Park. The property is prominently located on the east side of Station Road, at its junction with Osbourne Road and approximately 100 metres east of New Milton Railway Station. Nearby occupiers include Costa Coffee, Lloyds Pharmacy, Ladbrokes and Morrisons.
Tenure
Freehold.
Location
Miles
11 miles east of Bournemouth, 20 miles south-west of Southampton
Roads
A31, A35, M27, M3
Rail
New Milton Railway Station
Air
Southampton Airport
Situation
New Milton is an affluent town immediately south of the New Forest National Park. The property is prominently located on the east side of Station Road, at its junction with Osbourne Road and approximately 100 metres east of New Milton Railway Station. Nearby occupiers include Costa Coffee, Lloyds Pharmacy, Ladbrokes and Morrisons.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors. The property benefits from car parking to the rear and may be suitable for future alternative uses, including residential redevelopment of the upper parts (subject to consents).
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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 office and ancillary accommodation on the first and second floors. The property benefits from car parking to the rear and may be suitable for future alternative uses, including residential redevelopment of the upper parts (subject to consents).
VAT
VAT is not applicable to this lot.
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
Review/(Reversion)
Ground First Second
Banking Hall Ancillary Ancillary
213.50 sq m 65.20 sq m 43.40 sq m
(2,298 sq ft) (702 sq ft) (467 sq ft)
LLOYDS BANK PLC (1)
10 years from 24/06/2012 on a full repairing and insuring lease (2)
£23,500
24/06/2017 (23/06/2022)
Total
322.10 sq m
(3,467 sq ft)
£23,500
(1) For the year ending 31st December 2016, Lloyds Bank Plc reported a statutory profit before tax of £4,238,000,000 (increasing from £1,644,000,000 in 2015) and an underlying profit of £7,900,000 (Source: lloydsbankinggroup.com 11/04/2017). (2) The tenant has not exercised a 2017 tenant option to determine the lease.
