Attractive Bank Investment on a New 5 year lease to be granted (1)
Entirely occupied by Santander UK PLC
New 5 year lease (NO Breaks) (1)
VAT-free Investment
Future alternative use potential of the upper floors
Lot 26
Auction 16th June 2021
Rent Gross: £41,000 per Annum Exclusive
Status Sold
Price £248,000
Sector Bank
Auction Venue Live Streamed Auction
On Instructions of a Major Property Company
Property Information
Location
Miles
9 miles south-west of Warwick
12 miles south-west of Royal Leamington Spa
24 miles south of Birmingham
Roads
A46, A429, M40 (Junction 15)
Rail
Stratford-upon-Avon Railway Station
Air
Birmingham International Airport
Situation
Stratford-upon-Avon is a historic and affluent market town, popular with tourists due to its status as the birthplace of English playwright and poet William Shakespeare, as well as the home of the Royal Shakespeare Company at the Royal Shakespeare Theatre. The property is prominently situated in the heart of the town centre, on Wood Street close to its junction with High Street/Bridge Street.
Tenure
Leasehold. Held for 100 years from 29/09/1973 expiring 29/09/2073 at a current rent of £14,500 p.a. Review in 2033.
Location
Miles
9 miles south-west of Warwick
12 miles south-west of Royal Leamington Spa
24 miles south of Birmingham
Roads
A46, A429, M40 (Junction 15)
Rail
Stratford-upon-Avon Railway Station
Air
Birmingham International Airport
Situation
Stratford-upon-Avon is a historic and affluent market town, popular with tourists due to its status as the birthplace of English playwright and poet William Shakespeare, as well as the home of the Royal Shakespeare Company at the Royal Shakespeare Theatre. The property is prominently situated in the heart of the town centre, on Wood Street close to its junction with High Street/Bridge Street.
Tenure
Leasehold. Held for 100 years from 29/09/1973 expiring 29/09/2073 at a current rent of £14,500 p.a. Review in 2033.
Description
The property comprises a ground floor bank with ancillary accommodation on the first floor.
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 www.stratford.gov.uk
Viewings
There will be no internal viewings of the property due to Covid-19.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Description
The property comprises a ground floor bank with ancillary accommodation on the first floor.
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 www.stratford.gov.uk
Viewings
There will be no internal viewings of the property due to Covid-19.
Completion Period
Six Week Completion
EPC
See legal pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Gross Rent p.a.x.
Reversion
Ground First
Banking Ancillary
145.89 sq m
(1,570 sq ft)
SANTANDER UK PLC (2)
5 years beginning on 25/12/2020 (1)
£41,000
(24/12/2025)
Total
145.89 sq m
(1,570 sq ft)
£41,000
(1) Santander UK PLC are currently subject to an Agreement for Lease for a lease of the whole property for 5 years commencing on 25/12/2020. Completion of the lease is conditional on obtaining the freeholders consent to sublet. The terms of the Agreement for Lease cannot be disclosed for confidentiality reasons. However, the form of lease that is to be entered into will be provided as part of the auction pack. (2) 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 £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
