Directly opposite entrance to Nicholsons Shopping Centre with retailers including Tesco Metro, Next, WHSmith, H&M, Superdrug and Iceland
Other nearby occupiers include Marks & Spencer, Costa, Boots the Chemist and Greggs
Prominent pedestrianised position in affluent Thames Valley town
Maidenhead on new Crossrail route
Lot 7
Auction 24th May 2018
Rent £120,000 per Annum
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
4 miles south-east of Marlow, 12 miles north-east of Reading, 25 miles west of Central London
Roads
A308, A404, M4
Rail
Maidenhead Railway Station
Air
London Heathrow Airport
Situation
Maidenhead is a popular and affluent Berkshire market town which benefits from excellent communications, with the M4 motorway being less than two miles to the south. The property occupies a prominent position on the northern side of the pedestrianised section of High Street, directly opposite Nicholsons Shopping Centre. Nicholsons Shopping Centre has retailers including Tesco Metro, WHSmith, H&M, Superdrug, Iceland and Topshop. Other nearby occupiers include Marks & Spencer, Costa, Boots the Chemist and Greggs.
Tenure
Freehold.
Location
Miles
4 miles south-east of Marlow, 12 miles north-east of Reading, 25 miles west of Central London
Roads
A308, A404, M4
Rail
Maidenhead Railway Station
Air
London Heathrow Airport
Situation
Maidenhead is a popular and affluent Berkshire market town which benefits from excellent communications, with the M4 motorway being less than two miles to the south. The property occupies a prominent position on the northern side of the pedestrianised section of High Street, directly opposite Nicholsons Shopping Centre. Nicholsons Shopping Centre has retailers including Tesco Metro, WHSmith, H&M, Superdrug, Iceland and Topshop. Other nearby occupiers include Marks & Spencer, Costa, Boots the Chemist and Greggs.
Tenure
Freehold.
Description
The property comprises a well configured ground floor banking hall with ancillary accommodation on basement and office and 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 well configured ground floor banking hall with ancillary accommodation on basement and office and 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.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Basement First Second
Banking Hall/ Ancillary Ancillary Offices Offices
165.20 sq m
106.20 sq m 123.74 sq m 47.47 sq m
(1,778 sq ft)
(1,143 sq ft) (1,332 sq ft) (511 sq ft)
BARCLAYS BANK PLC (1)
20 years from 14/08/2006 until 13/08/2026 on a full repairing and insuring lease (2)
£120,000 (3)
24/06/2019 24/06/2024
Total
442.61 sq m
(4,764 sq ft)
£120,000 (3)
(1) For the year ending 31st December 2016, Barclays Bank Plc reported pre-tax profits of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 14/03/2018). (2) The lease is full repairing and insuring subject to a photographic Schedule of Condition. (3) The lease was subject to a tenant option to determine in August 2021, which has now been removed by way of a Deed of Variation in return for a 9 month rent-free period from 25th March 2018 expiring 24th December 2018. The Vendor has agreed to adjust the completion monies so that the property will effectively produce £120,000 per annum from completion of the sale.
