4 Corn Street
Leominster
Herefordshire
HR6 8LX

Newly Opened Freehold Bank Investment

  • Barclays Bank opened in May 2018 following substantial fit out
  • New 10 year lease from November 2017 (subject to option)
  • Tenant relocated to subject property having traded in previous Leominster town centre branch for numerous years
  • Prime trading location
  • Lot
    2
  • Auction
    11/Jul/2018
  • Rent
    £16,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £250,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • 4 Corn Street<br>Leominster<br>Herefordshire<br>HR6 8LX
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Property Information

Location
Miles
11 miles south of Ludlow, 12 miles north of Hereford, 25 miles west of Worcester
Roads
A44, A49, A456, M5 (Junction 7)
Rail
Leominster Railway Station
Air
Birmingham International Airport
Situation

The property is located in the historic market town of Leominster and is prominently situated on the southern side of Corn Street, which connects to Corn Square and High Street. Nearby occupiers include WHSmith, Boots the Chemist, Holland & Barrett, Coffee #1, Specsavers, Shoe Zone, Savers, Hallmark Cards and Scrivens, with branches of Santander and Lloyds banks also located within the town. Corn Square provides public car parking for over 20 cars.

Tenure

Freehold.

Description

The property comprises a newly refurbished bank, with a ground floor banking hall and ancillary accommodation on the basement and first floors.

VAT

VAT is applicable to this lot.

Completion Period

Six

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReview
Ground

Basement
First
Banking
Hall/Ancillary
Ancillary
Ancillary
95.12 sq m

7.10 sq m
41.10 sq m
(1,024 sq ft)

(74 sq ft)
(442 sq ft)
BARCLAYS BANK UK PLC (1) 10 years from
28/11/2017 until
27/11/2027 (2) on a full
repairing and
insuring lease
£16,000 28/11/2022
Total
143.32 sq m
(1,540 sq ft)
  £16,000 

(1) For the year ending 31st December 2017, Barclays Bank UK Plc reported pre-tax profits of £14,060,000 and a total net worth of £159,269,000 (Source: Experian Group 21/05/2018).
(2) The lease provides for a tenant option to determine on 27/11/2022.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    26.06.18
    File Size
    13 MB
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  • Site Plan
    Updated Date
    19.06.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    19.06.18
    File Size
    786 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
Seller's Solicitors
Thursfields Solicitors 5 The Courtyard, Warwick Road
Solihull
West Midlands
B91 3DA
Mike Brien 0121 647 5261mbrien@thursfields.co.uk

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