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 11th July 2018
Rent £16,000 per Annum Exclusive
Status Sold Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
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.
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
EPC
The EPC will be available to view online in the solicitor’s legal pack.
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
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
Review
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.