122 High Street Bromsgrove Worcestershire B61 8ES

122 High Street
Bromsgrove
Worcestershire
B61 8ES

Freehold Bank Investment

  • Let to Bank of Scotland Plc (t/a Halifax)
  • Recently extended lease until 2027 (no breaks)
  • Prime pedestrianised location
  • Nearby occupiers include Asda Superstore, Iceland, Boots, Costa and Barclays, Lloyds & NatWest banks
  • Vat-free investment
  • Lot
    11
  • Auction
    24th September 2021
  • Rent
    £75,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £800,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Let to Bank of Scotland Plc (t/a Halifax)
  • Recently extended lease until 2027 (no breaks)
  • Prime pedestrianised location
  • 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.

Property Documents

  • Catalogue Page
    Updated Date
    03.09.21
    File Size
    871 KB
    View PDF
  • Site Plan
    Updated Date
    03.09.21
    File Size
    672 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Chhokar & Co 112 Crawford Street,
London
W1H 2JF
Olabode Fagbemi 0207 935 333 5oof@chhokarlaw.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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