Majority let to Barclays Bank Plc until 2026 (subject to option)
Offices let to Solicitors
Prominent corner position on High Street
Close Proximity to the Astle Retail Outlet Park and Kings Square and Queens Square Shopping Centres
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 27
Auction 25th May 2017
Rent £68,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles north-west of Birmingham City Centre, 8 miles south-east of Wolverhampton
Roads
M5 (Junction 1), M6 (Junction 8)
Rail
Sandwell & Dudley Railway Station
Air
Birmingham Airport
Situation
The property is situated in a prominent corner position on the north side of High Street and at its junction with Lombard Street in the town centre. The property is within close proximity to the Astle Outlet Retail Park whose occupiers include Marks & Spencer, Gap, Nike and Trespass outlets, as well as the Queens Square and Kings quare Shopping Centres. Other neighbouring occupiers iclude TSB, NatWest and HSBC banks.
Tenure
Freehold.
Location
Miles
5 miles north-west of Birmingham City Centre, 8 miles south-east of Wolverhampton
Roads
M5 (Junction 1), M6 (Junction 8)
Rail
Sandwell & Dudley Railway Station
Air
Birmingham Airport
Situation
The property is situated in a prominent corner position on the north side of High Street and at its junction with Lombard Street in the town centre. The property is within close proximity to the Astle Outlet Retail Park whose occupiers include Marks & Spencer, Gap, Nike and Trespass outlets, as well as the Queens Square and Kings quare Shopping Centres. Other neighbouring occupiers iclude TSB, NatWest and HSBC banks.
Tenure
Freehold.
Description
The property, a purpose built banking premises, comprises ground floor banking hall accommodation with ancillary accommodation in the basement and on part of the first floor. The property also comprises separate self-contained office accommodation on the remaining part of the ground and first floors which is accessed from High Street.
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, a purpose built banking premises, comprises ground floor banking hall accommodation with ancillary accommodation in the basement and on part of the first floor. The property also comprises separate self-contained office accommodation on the remaining part of the ground and first floors which is accessed from High Street.
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
Reviews/(Reversion)
Ground First Basement
Banking Hall Ancillary Ancillary
405.99 sq m 25.83 sq m 87.89 sq m
(4,370 sq ft) (278 sq ft) (946 sq ft)
BARCLAYS BANK PLC (1)
20 years from 22/06/2006 (2)
£43,000
29/09/2021 (21/06/2026)
Ground First
Office Office
43.85 sq m 195.93 sq m
(472 sq ft) (2,109 sq ft)
INDIVIDUAL t/a HRS Family Law Solicitors
10 years from 01/01/2015
£25,000
01/01/2019 01/01/2022 (31/12/2025)
Totals
759.49 sq m
(8,175 sq ft)
£68,000
(1) For the year ending 31st December 2015, Barclays Bank Plc reported a pre tax profit of £2,841,000,000 and a total net worth of £55,845,000,000 (Source: Experian Group: 25/04/2017) (2) The lease provides for a tenant option to determine the lease on 21/06/2021.