19 The Parade
Minehead
Somerset
TA24 5LU

Prime Freehold Bank Investment

  • Entirely let to TSB Bank Plc
  • Bank trading in this location for over 20 years (previously trading as Lloyds TSB Bank)
  • February 2018 Rent Review outstanding
  • Prime trading location opposite Boots the Chemist, WHSmith and Superdrug
  • Popular Somerset resort town
  • VAT-free Bank Investment
  • Lot
    20
  • Auction
    28/Mar/2018
  • Rent
    £34,750 per Annum
  • Status
    Sold Post
  • Price*
     
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 19 The Parade<br>Minehead<br>Somerset<br>TA24 5LU
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Property Information

Location
Miles
25 miles north-west of Taunton, 45 miles north of Exeter
Roads
A39, A396
Rail
Taunton Railway Station
Air
Exeter International Airport
Situation

Minehead, situated on the North Somerset coast, benefits from a wide catchment. As a resort town, it also enjoys a large influx of tourists. The property is located on the northern side of The Parade, close to its junction with The Avenue, in the town’s principal trading pitch. Boots the Chemist, Superdrug and WHSmith are opposite the property, with other nearby retailers including Edinburgh Woollen Mill, Superdrug, Costa, Iceland and branches of Santander, Barclays, HSBC and NatWest banks. Summerland Avenue Car Park is a short walk away and provides car parking for over 90 cars.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation on basement and office/ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground
Basement
First
Second
Banking Hall/Ancillary
Ancillary
Offices/Ancillary
Offices/Ancillary
141.03 sq m
44.31 sq m
107.02 sq m
47.19 sq m
(1,518 sq ft)
(477 sq ft)
(1,152 sq ft)
(508 sq ft)
TSB BANK PLC (1)
t/a TSB Bank
11 years from
27/02/2012 until
26/02/2023 on a
full repairing and
insuring lease
£34,75027/02/2018
(2)
Total
339.55 sq m
(3,655 sq ft)
  £34,750 

(1) For the year ending 31st December 2017, TSB Bank Plc reported pre-tax profits of £159,100,000 and a total net worth of £1,996,500,000 (Source: Experian Group 26/02/2018).
(2) Rent review notice has been served proposing a new rent of £40,000 per annum.

Property Documents

  • Site Plan
    Updated Date
    06.03.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    787 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George WatkinsGeorge Watkins +44 (0)20 7034 4861george.watkins@acuitus.co.uk
Associate Auctioneers
Molyneux Rose Limited 143 New Bond Street
London
W1S 2TP
Michael Little 0207 182 1895michael.little@molyrose.co.uk
Seller's Solicitors
McCarthy Denning 49 Queen Victoria Street
LONDON
EC4N 4SA
John Dean 0207 769 6741jdean@mccarthydenning.com

Useful Links

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