Attractive Heritable Bank and Residential Investment
Majority let to TSB Bank Plc until June 2026
Minute of Extension and Variation recently signed extending TSB’s term for a further 7 years at a re-based rent
Includes three self-contained residential flats
Prominent town centre location
Nearby occupiers include Boots, Tesco, Express, Superdrug, Game, Greggs, Wilko, Waterstones and Holland & Barrett
Lot 74
Auction 24th May 2018
Rent £130,400 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
35 miles south-west of Glasgow, 70 miles south-west of Edinburgh
Roads
A76, A77, M77
Rail
Ayr Railway Station
Air
Glasgow Prestwick and Glasgow International Airports
Situation
The property is prominently situated in the heart of the town centre, on the east side of High Street. Nearby occupiers include Boots, Tesco Express, Superdrug, Game, Greggs, Wilko, Waterstones and Holland & Barrett.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Location
Miles
35 miles south-west of Glasgow, 70 miles south-west of Edinburgh
Roads
A76, A77, M77
Rail
Ayr Railway Station
Air
Glasgow Prestwick and Glasgow International Airports
Situation
The property is prominently situated in the heart of the town centre, on the east side of High Street. Nearby occupiers include Boots, Tesco Express, Superdrug, Game, Greggs, Wilko, Waterstones and Holland & Barrett.
Tenure
Heritable. (Scottish equivalent of English Freehold).
Description
The property, an attractive listed building, comprises a ground floor banking hall with office and ancillary accommodation on the first floor. The second floor comprises one self-contained two bedroom flat and two self-contained one bedroom flats, all three accessed via Nile Court.
VAT
VAT is 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, an attractive listed building, comprises a ground floor banking hall with office and ancillary accommodation on the first floor. The second floor comprises one self-contained two bedroom flat and two self-contained one bedroom flats, all three accessed via Nile Court.
VAT
VAT is 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 First
Banking Hall Office/Ancillary
248.53 sq m 254.68 sq m
(2,675 sq ft) (2,741 sq ft)
TSB BANK PLC (1)
32 years from 13/06/1994 to 12/06/2026 on a full repairing and insuring lease (2)
£125,000
12/06/2021
Second (Flat 1)
Two bedroom flat
90.00 sq m
(969 sq ft)
INDIVIDUALS
Short Assured Tenancy from 17/11/2003 to 16/04/2004 (continuing on a rolling basis)
£5,400 (3)
Second (Flat 2)
One bedroom flat
53.00 sq m
(571 sq ft)
VACANT POSSESSION
Second (Flat 3)
One bedroom flat
67.00 sq m
(721 sq ft)
VACANT POSSESSION
Total
713.21 sq m
(7,677 sq ft)
£130,400
(1) For the year ending 31st December 2017, TSB Bank Plc reported a pre-tax profit of £159,100,000 and a total net worth £1,996,500,000 (Source: Experian Group 25/04/2018). (2) The tenant occupies the property under a lease for a term 25 years from 13/06/1994 until 12/06/2019. A Minute of Extension and Variation has recently been entered into extending the term for an additional 7 years from 13/06/2019 until 12/06/2026. The rent was rebased from £178,000 p.a.x. to £125,000 p.a.x. In addition, the second floor previously demised to TSB Bank Plc was surrendered to the landlord. (3) The rent stated has been annualised. NB. The residential areas stated above are on a Gross Internal basis (GIA).
