46-50 High Street Grays Essex RM17 6NA

46-50 High Street
Grays
Essex
RM17 6NA

Freehold Bank Investment

  • Entirely let to Bank of Scotland Plc until June 2032 (no breaks)
  • Favourable alienation provisions within the lease
  • Large site to rear with parking for about 8 cars
  • Prominent pedestrianised town centre location opposite Grays Shopping Centre and Boots the Chemist
  • VAT-free bank investment
  • Lot
    26
  • Auction
    12th February 2020
  • Rent
    £47,000 per Annum Exclusive
  • Status
    Sold Prior
  • Price
     
  • Sector
    Bank
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Entirely let to Bank of Scotland Plc until June 2032 (no breaks)
  • Favourable alienation provisions within the lease
  • Large site to rear with parking for about 8 cars
  • Prominent pedestrianised town centre location opposite Grays Shopping Centre and Boots the Chemist
  • VAT-free bank investment
  • Lot 26
  • Auction 12th February 2020
  • Rent
  • Status Sold Prior
  • Price  
  • Sector
    Bank
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN

Property Information

Location
Miles
9 miles north-east of Dartford
3 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation

Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.

Tenure

Freehold.

Location
Miles
9 miles north-east of Dartford
3 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation

Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.

Tenure

Freehold.

Description

The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.

EPC

See legal pack at acuitis.co.uk

Description

The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.

EPC

See legal pack at acuitis.co.uk

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review
48-50
Ground
First
Banking Hall/Offices
Offices/Ancillary
261.20 sq m
174.40 sq m
(2,812 sq ft)
(1,877 sq ft)
BANK OF
SCOTLAND PLC
(1) t/a Halifax
15 years from
27/06/2017 until
26/06/2032 on a
full repairing
and insuring
lease
£47,000 26/06/2022
and
26/06/2027
46 Ground Retail (sublet) (2)
53.40 sq m
(575 sq ft)
Total    
489.00 sq m
(5,264 sq ft)
    £47,000  

1) For the year ending 31st December 2018, Bank of Scotland Plc reported profit before tax of £2,231,000,000 and total assets of £343,926,000,000 (Source: Companies House 20/01/2020). Bank of Scotland is part of Lloyds Banking Group, the UK's leading financial services company that serves around 27 million customers. The group also has some of the most well known brands on the high street, including Lloyds Bank, Halifax and Scottish Widows (Source: www.lloydsbankinggroup.com 16/01/2020).
(2) 46 High Street has been sublet to Dr Han Chinese Medicine.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    642 KB
    View PDF
  • Site Plan
    Updated Date
    22.01.20
    File Size
    644 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Ringley Law LLP Ringley House
1 Castle Road
London
NW1 8PR
Lee Harle 020 7267 2900lee.harle@ringleylaw.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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