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
    24/Sep/2021
  • Rent
    £75,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £800,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • 122 High Street, Bromsgrove, Worcestershire, B61 8ES
  • Expand
  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
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
£75,00021/11/2022
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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

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
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Seller's Solicitors
Chhokar & Co 112 Crawford Street,
London
W1H 2JF
Olabode Fagbemi 0207 935 333 5oof@chhokarlaw.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Are you sure you want to delete your Account?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now