Nearby occupiers include Asda Superstore, Iceland, Boots, Costa and Barclays, Lloyds & NatWest banks
Vat-free investment
Lot 11
Auction 24th September 2021
Rent
Status Sold
Price £800,000
Sector Bank
Auction Venue Live Streamed Auction
Property Information
Location
Miles
15 miles north-east of Worcester, 15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Railway Station (links to Birmingham New Street and London Euston)
Air
Birmingham International Airport
Situation
The property is prominently situated on the east side of the pedestrianised High Street, close to its junction with Mill Lane and Chapel Street in the heart of Bromsgrove town centre. Nearby occupiers include Asda Superstore, Iceland, Boots, Costa and Barclays, Lloyds & NatWest banks.
Tenure
Freehold.
Location
Miles
15 miles north-east of Worcester, 15 miles south-west of Birmingham
Roads
A38, A448, M5, M42
Rail
Bromsgrove Railway Station (links to Birmingham New Street and London Euston)
Air
Birmingham International Airport
Situation
The property is prominently situated on the east side of the pedestrianised High Street, close to its junction with Mill Lane and Chapel Street in the heart of Bromsgrove town centre. Nearby occupiers include Asda Superstore, Iceland, Boots, Costa and Barclays, Lloyds & NatWest banks.
Tenure
Freehold.
Description
The property comprises a bank arranged on the ground and first floors. The property benefits from car parking at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a bank arranged on the ground and first floors. The property benefits from car parking at the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Banking Hall/Ancillary Ancillary
216.30 sq m 119.56 sq m
(2,328 sq ft) (1,287 sq ft)
BANK OF SCOTLAND PLC t/a Halifax (2)
20 years from 21/11/2007 until 20/11/2027 (3) on a full repairing and insuring lease
£75,000
21/11/2022
Total
335.86 sq m
(3,615 sq ft) (1)
£75,000
(1) Floor areas provided by the Valuation Office Agency (www.gov.uk) (2) For the year ending 31st Decmber 2020, Bank of Scotland Plc reported a turnover of £7,773,000,000, a pre-tax profit of £883,000,000 and shareholder funds of £13,380,000,000 (Source: NorthRow 24/08/2021). (3) The property was originally let for a term of 15 years from 21/11/2007 until 20/11/2022. A reversionary lease was completed in May 2020 extending the term for a further 5 years from 21/11/2022 and ending on 20/11/2027, with an upward only rent review on 21/11/2022.
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.