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 28th March 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
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.
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
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 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
EPC
The EPC will be available to view online in the solicitor’s legal pack.
11 years from 27/02/2012 until 26/02/2023 on a full repairing and insuring lease
£34,750
27/02/2018 (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.
