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
