Barclays lease expires June 2030 (subject to option)
Car parking for eight cars to the rear
Popular Essex town, home of the famous Burnham Week Sailing Regatta
VAT-free investment
Lot 36
Auction 23rd May 2019
Rent £19,800 per Annum Exclusive
Status Sold
Price £360,000
Sector Bank
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
Property Information
Location
Miles
23 miles south-east of Chelmsford
25 miles north of Southend-on-Sea
46 miles east of Central London
Roads
A130
Rail
Burnham-on-Crouch (approximately 1 hour 8 minutes to London Liverpool Street)
Air
London Southend Airport, London City Airport
Situation
The property is situated in a prominent corner location on the northern side of High Street, at its junction with Stebbings Court. Nearby occupiers include One Stop and a number of independent retailers.
Tenure
Freehold.
Location
Miles
23 miles south-east of Chelmsford
25 miles north of Southend-on-Sea
46 miles east of Central London
Roads
A130
Rail
Burnham-on-Crouch (approximately 1 hour 8 minutes to London Liverpool Street)
Air
London Southend Airport, London City Airport
Situation
The property is situated in a prominent corner location on the northern side of High Street, at its junction with Stebbings Court. Nearby occupiers include One Stop and a number of independent retailers.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall and offices with a staff room on part first floor. In addition there is a self-contained residential flat on the remainder of the first floor. The property also benefits from eight car parking spaces.
VAT
VAT is not applicable to this lot.
EPC
Band D. Please see legal pack at acuitus.co.uk.
Description
The property comprises a ground floor banking hall and offices with a staff room on part first floor. In addition there is a self-contained residential flat on the remainder of the first floor. The property also benefits from eight car parking spaces.
VAT
VAT is not applicable to this lot.
EPC
Band D. Please see legal pack at acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Part First
Banking Hall/ Offices Ancillary
176.61 sq m
17.93 sq m
(1,901 sq ft)
(193 sq ft)
BARCLAYS BANK PLC (1)
20 years from 25/06/2010 until 24/06/2030 (2)
£19,800
25/06/2020 25/06/2025
Part First
Residential
-
(-)
AN INDIVIDUAL
125 years until 10/01/2133
Peppercorn
Total
394.58 sq m
(4,247 sq ft)
£19,800
(1) For the year ending 31st December 2017, Barclays Bank Plc reported a turnover of £8,775,000,000, pre-tax profits of £3,166,000,000 and a total net worth of £60,829,000,000 (Source: Experian Group 23/04/2019). (2) The lease provides for a tenant option to determine at the end of the fifteenth year of the term.
