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 23rd September 2020
Rent £52,150 per Annum Exclusive
Status Sold
Price £575,000
Sector Bank
Auction Venue Live Streamed Auction
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.
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
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
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/Second
4 flats
118.12 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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
