Attractive City Centre 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
Lot 27
Auction 16th June 2021
Rent £49,540 per Annum Exclusive
Status Sold
Price £402,000
Sector Bank
Auction Venue Live Streamed Auction
On Instructions of a Major Property Company
Property Information
Location
Miles
7 miles south-west of Dartmoor National Park
40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
The port city of Plymouth is located on the south west coast 40 miles south west of Exeter, 30 miles east of St Austell and 7 miles south of Dartmoor National Park. The property is located in the city centre on Armada Way close to its junction with New George Street and Armada Way shopping centre. Plymouth Bus station is close by together with a number of public car parks. City of Plymouth University and Plymouth railway station are within walking distance to the north. Nearby occupiers include Spar, Barclays, SpecSavers, Samsung, TSB and Subway
Tenure
Long Leasehold. Leasehold. Held from Plymouth City Council for a term of years expiring 24th December 2058 at a rent of £460 p.a.
Location
Miles
7 miles south-west of Dartmoor National Park
40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport,
Cornwall Airport Newquay
Situation
The port city of Plymouth is located on the south west coast 40 miles south west of Exeter, 30 miles east of St Austell and 7 miles south of Dartmoor National Park. The property is located in the city centre on Armada Way close to its junction with New George Street and Armada Way shopping centre. Plymouth Bus station is close by together with a number of public car parks. City of Plymouth University and Plymouth railway station are within walking distance to the north. Nearby occupiers include Spar, Barclays, SpecSavers, Samsung, TSB and Subway
Tenure
Long Leasehold. Leasehold. Held from Plymouth City Council for a term of years expiring 24th December 2058 at a rent of £460 p.a.
Description
The property comprises a ground floor banking hall with office and ancillary accommodation on the upper floors. The upper floors are separately accessed from Armada Way.
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.plymouth.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 banking hall with office and ancillary accommodation on the upper floors. The upper floors are separately accessed from Armada Way.
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.plymouth.gov.uk
Viewings
There will be no internal viewings of the property due to Covid-19.
(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 Lancashire M2 3DE
