2 Market Place
Wallingford
Oxfordshire
OX10 0EJ

Freehold Bank Investment

  • Majority let to Barclays Bank Plc
  • Lease expires April 2027 (subject to option)
  • Prominent town centre location on principal pedestrianised thoroughfare
  • Affluent Oxfordshire Market Town
  • Nearby occupiers include Waitrose, Boots the Chemist, Lloyds Pharmacy, Costa Coffee, Greggs, and various national banks
  • VAT-free investment
  • Lot
    20
  • Auction
    23/Sep/2020
  • Rent
    £52,150 per Annum Exclusive
  • Status
    Sold
  • Price*
    £575,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • 2 Market Place<br>Wallingford<br>Oxfordshire<br>OX10 0EJ
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  • Map

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

Property Information

Location
Miles
13 miles south-east of Oxford
15 miles north-west Reading
Roads
A34, M4, M40
Rail
Cholsey
Air
London Heathrow
Situation

Wallingford is an attractive town surrounded by the North Wessex Downs, approximately 13 miles south-east of Oxford and 15 miles north-west of Reading. The property is situated in a prominent location on the east side of Market Place, which forms part of the principal pedestrianised thoroughfare with St Mary's Street, in the heart of Wallingford. Nearby occupiers include Waitrose, Boots the Chemist, Lloyds Pharmacy, Costa Coffee, Greggs, and various national banks.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation on the basement. The first and second floors comprise four self-contained flats which have been let on long leases.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Available from the legal pack at www.acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReviews
Ground
Basement
Banking Hall
Ancillary
234.57 sq m
50.84 sq m
(2,524 sq ft)(547 sq ft)
BARCLAYS
BANK
PLC (1)
20 years from
27/04/2007 (2)
£51,750 (3)29/09/2022
First/Second4 flats118.12 sq m(1,271 sq ft)VARIOUS (4)125 years from
23/05/2008
£400 (total)Fixed rental
uplift to £800
(total) on
23/05/2033
and a further
£400 (total)
every 25 years
thereafter
Total
403.53 sq m
(4,342 sq ft)
  £52,150 

(1) For the year ending 31st December 2019, Barclays Bank Plc did not report a turnover, but reported a pre-tax profit of £3,112,000,000 and shareholders funds of £50,615,000,000 (source: SmartSearch 18/08/2020).
(2) The lease is subject to a tenant only option to determine on 27/04/2022.
(3) The property was originally let in 2007 at £40,100 pa. The rent increased at the September 2012 Rent Review to £48,500 pa and then again at the September 2017 Rent Review to £51,750 pa.
(4) The four flats above are let on separate leases, all on the same terms. Please see legal pack for individual leases.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    11.09.20
    File Size
    17 MB
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  • Catalogue Page
    Updated Date
    02.09.20
    File Size
    753 KB
    View PDF
  • Site Plan
    Updated Date
    02.09.20
    File Size
    881 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    15.09.20
    File Size
    57 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Aston Bond Solictors 135 High Street
Slough
SL1 1DN
Duncan Thomson 01753 486 777dthomson@astonbond.co.uk

Useful Links

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