Important 2017 Rent Review outstanding. Notice served quoting a new rent of £20,000 per annum exclusive
2017 tenant break option not exercised
Neighbouring occupiers include Sports Direct and Sainsbury's
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 7
Auction 25th May 2017
Rent £13,000 per Annum Exclusive
Status Sold
Price £232,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3 miles south-east of Birmingham City Centre
Roads
A34, A41, A45
Rail
Longbridge Railway Station
Air
Birmingham International Airport
Situation
Longbridge is a predominantly residential district of Birmingham, some 7 miles south-west of the City Centre and has a long history synonymous with the car manufacturing industry. The area is also benefiting from a £1 billion regeneration project to include a new Town Centre, Technology Park and College (Source: www.longbridgebirmingham.co.uk). The property is situated on the west side of Bristol Road South (A38) and at its junction with Boughton Crescent. The A38 is an arterial route linking the M5 and Birmingham City Centre. Neighbouring occupiers include Sports Direct and Sainsbury’s.
Tenure
Freehold.
Location
Miles
3 miles south-east of Birmingham City Centre
Roads
A34, A41, A45
Rail
Longbridge Railway Station
Air
Birmingham International Airport
Situation
Longbridge is a predominantly residential district of Birmingham, some 7 miles south-west of the City Centre and has a long history synonymous with the car manufacturing industry. The area is also benefiting from a £1 billion regeneration project to include a new Town Centre, Technology Park and College (Source: www.longbridgebirmingham.co.uk). The property is situated on the west side of Bristol Road South (A38) and at its junction with Boughton Crescent. The A38 is an arterial route linking the M5 and Birmingham City Centre. Neighbouring occupiers include Sports Direct and Sainsbury’s.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with office and ancillary accommodation on the first floor. The property benefits from forecourt car parking for 3 cars.
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 floor. The property benefits from forecourt car parking for 3 cars.
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
Banking Hall Office/Ancillary
127.80 sq m 55.60 sq m
(1,376 sq ft) (598 sq ft)
TSB BANK PLC (1)
10 years from 14/08/2012 on a full repairing and insuring lease
£13,000
14/08/2017 (2) (13/08/2022)
Totals
183.40 sq m
(1,974 sq ft)
£13,000
(1) For the year ending 31st December 2016, TSB Bank Plc reported pre-tax profits of £182,300,000 and a total net worth of 1,879,200,000 (Source: Experian Group 05/04/2017). (2) As to the 2017 rent review, the seller has served a rent review notice on the tenant stating a new rent of £20,000 per annum exclusive.