120 Station Road New Milton Hampshire BH25 6LL

  • 120 Station Road<br>New Milton<br>Hampshire<br>BH25 6LL

120 Station Road
New Milton
Hampshire
BH25 6LL

Attractive Freehold Bank Investment on a New 5 year lease

  • Entirely let to Santander UK Plc
  • New 5 year lease (NO Breaks)
  • Lease renewal from 25th December 2020
  • VAT-free Investment
  • Future alternative use potential of the upper floors
  • Main public car park to the rear
  • Lot
    1
  • Auction
    11th February 2021
  • Rent
    £22,200 per Annum Exclusive
  • Status
    Sold
  • Price
    £379,000
  • Auction Venue
    Live Streamed Auction
  • On Instructions of a Major Fund Manager
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Attractive Freehold Bank Investment on a New 5 year lease

  • Entirely let to Santander UK Plc
  • New 5 year lease (NO Breaks)
  • Lease renewal from 25th December 2020
  • VAT-free Investment
  • Future alternative use potential of the upper floors
  • Main public car park to the rear
  • Lot 1
  • Auction 11th February 2021
  • Rent £22,200 per Annum Exclusive
  • Status Sold
  • Price £379,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • On Instructions of a Major Fund Manager

Property Information

Location
Miles
7 miles west of Lymington
11 miles east of Bournemouth
20 miles south-west of Southampton
Roads
A31, A35, M27, M3
Rail
New Milton Railway Station
Air
Southampton Airport
Situation

New Milton is an affluent town immediately south of the New Forest National Park, 7 miles west of Lymington and 11 miles east of Bournemouth. The property is prominently located on the west side of Station Road, approximately 500 metres south of New Milton Railway Station.
The towns main car park is situated to the rear of the property. Nearby occupiers include HSBC Holland & Barrett, McColl's, Halifax, Papa John's and Boots.

Tenure

Freehold.

Location
Miles
7 miles west of Lymington
11 miles east of Bournemouth
20 miles south-west of Southampton
Roads
A31, A35, M27, M3
Rail
New Milton Railway Station
Air
Southampton Airport
Situation

New Milton is an affluent town immediately south of the New Forest National Park, 7 miles west of Lymington and 11 miles east of Bournemouth. The property is prominently located on the west side of Station Road, approximately 500 metres south of New Milton Railway Station.
The towns main car park is situated to the rear of the property. Nearby occupiers include HSBC Holland & Barrett, McColl's, Halifax, Papa John's and Boots.

Tenure

Freehold.

Description

The property comprises a ground floor bank with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to New Forest District Council www.newmiltontowncouncil.gov.uk/new-forest-district-council/

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Description

The property comprises a ground floor bank with ancillary accommodation on the first and second floors.

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to New Forest District Council www.newmiltontowncouncil.gov.uk/new-forest-district-council/

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)		 Tenant Term Rent p.a.x Reversion
Ground

First
Second		 Banking/
Ancillary
Ancillary
Ancillary
77.60 sq m

50.30 sq m
25.10 sq m
(835 sq ft)

(541 sq ft)
(270 sq ft)
 SANTANDER UK
PLC (1)		 5 years from
25/12/2020 on a full
repairing and insuring lease		 £22,200 24/12/2025
Total
153.00 sq m
(1,646 sq ft)
     £22,200  

(1) For the year ending 31st December 2019, Santander UK PLC reported a turnover of £7,224,000,000, a pre-tax profit of £1,012,000,000 and shareholders funds of £15,857,000,000 (Source: NorthRow 19/01/2021).

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Contacts

Seller's Solicitors
Addleshaw Goddard LLP One St Peter's Square
Manchester
M2 3DE
Josh Bragg 01619346557Josh.Bragg@addleshawgoddard.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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