Let to Nationwide Building Society on a new 10 year lease (subject to option)
Prominent position on High Street
Located within an attractive and historic Somerset market town
Nearby occupiers include Oxfam, Boots, William Hill and Co-operative Food
Lot 34
Auction 19th October 2017
Rent £40,000 per Annum Exclusive
Status Sold
Price £595,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
22 miles south of Bristol, 115 miles west of London
Roads
A39, M5 (Junction 23)
Air
Bristol Airport
Situation
Glastonbury is a an attractive and historic Somerset market town some 22 miles south of Bristol. The property occupies a prominent position in the heart of the town centre on the principal retailing pitch, close to its junction with the pedestrianised Market Place. Nearby occupiers include Oxfam, Boots, William Hill and Co-operative Food.
Tenure
Freehold.
Location
Miles
22 miles south of Bristol, 115 miles west of London
Roads
A39, M5 (Junction 23)
Air
Bristol Airport
Situation
Glastonbury is a an attractive and historic Somerset market town some 22 miles south of Bristol. The property occupies a prominent position in the heart of the town centre on the principal retailing pitch, close to its junction with the pedestrianised Market Place. Nearby occupiers include Oxfam, Boots, William Hill and Co-operative Food.
Tenure
Freehold.
Description
The property comprises an attractive Grade II listed building currently arranged as a ground floor banking hall with office and ancillary accommodation on first and second floors. The property also benefits from basement accommodation which is accessed via a hatch.
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 an attractive Grade II listed building currently arranged as a ground floor banking hall with office and ancillary accommodation on first and second floors. The property also benefits from basement accommodation which is accessed via a hatch.
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
Ground Basement First
Second
Banking Hall Storage Office/ Ancillary Office / Ancillary
140.3 sq m 24.1 sq m 55.6 sq m
46 sq m
(1,510 sq ft) (259 sq ft) (598 sq ft)
(495 sq ft)
NATIONWIDE BUILDING SOCIETY (1)
10 years from 01/02/2017 on a full repairing and insuring lease (2)
£40,000
01/02/2021
Total
£40,000
(1) For the year ending 4th April 2017, Nationwide Building Society reported a turnover of £428,000,000, pre-tax profits of £1,279,000,000 and total net worth of £9,739,000,000 (Source: Experian Group 18/09/2017). Nationwide is now the world's largest mutual financial institution, the UK's second largest mortgage provider and one of the UK's largest savings providers, with over 700 branches across the UK (Source: nationwide.co.uk 18/09/2017). (2) The lease provides a tenant option to determine on 01/02/2021. The lease is FRI subject to the tenant being exempt from undertaking repairs to the stonework of the external walls.
