Entirely let to Barclays Bank plc until 2022, following a new 10 year lease extension
Trading as Barclays from the site since the 1920’s
Prime pedestrianised retail location
Nearby occupiers include Lloyds Banking Group, HSBC, Halifax and Boots the Chemist
6 week completion period available
Lot 20
Auction 23rd February 2012
Rent £61,700 per Annum Exclusive
Status Sold
Price £1,000,000
Sector Bank
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail Station
Air
Manston Airport, London Gatwick
Situation
Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property is situated on the corner of Queen Street and Cavendish Street, a pedestrianised thoroughfare, within the Ramsgate Conservation Area.
Tenure
Freehold.
Location
Miles
4.5 miles south of Margate, 16 miles west of Canterbury, 20 miles north of Dover
Roads
M2, A253, A256
Rail
Ramsgate Rail Station
Air
Manston Airport, London Gatwick
Situation
Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property is situated on the corner of Queen Street and Cavendish Street, a pedestrianised thoroughfare, within the Ramsgate Conservation Area.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall benefiting from a return frontage with office accommodation on first and second floors and basement storage accommodation. The property benefits from rear access and car parking for approximately 4 cars.
VAT
VAT is not applicable to this lot.
Viewings
There will only be one viewing date. Interested parties should register with the auctioneers and will need to provide identification on site. Please contact Gwen Thomas at Acuitus on 020 7034 4857
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall benefiting from a return frontage with office accommodation on first and second floors and basement storage accommodation. The property benefits from rear access and car parking for approximately 4 cars.
VAT
VAT is not applicable to this lot.
Viewings
There will only be one viewing date. Interested parties should register with the auctioneers and will need to provide identification on site. Please contact Gwen Thomas at Acuitus on 020 7034 4857
EPC
The EPC will be available to view online in the solicitor’s legal pack.
20 years from 29/09/1992. New 10 year extension completed from 29/09/2012 (2)
£61,500
29/09/2017 (28/09/2022)
Fire Escape
Lloyds Bank plc (3)
£200.00
Totals
660.70 sq m
(7,114 sq ft)
£61,700
1) For the year ending 31/12/2010 Barclays Bank Plc reported a pre tax profit of £6,079,000,000 and a total net worth of £53,944,000,000. Source: www.riskdisk.co.uk (21/12/2011) 2) Barclays Bank Plc have signed a reversionary fully repairing and insuring lease for 10 years from 29th September 2012 at the current passing rent of £61,500 with a review on 28th September 2017. A rent free period has been agreed between the 29th September 2011 and 28th September 2012. The seller will be responsible for the rent free period and will deduct from the purchase price a sum equivalent to the rent that would have been paid but for the rent free period for the period between completion and 28th September 2012. 3) There is a licence agreement in place for the adjoining owner, Lloyds Bank Plc, to use a fire escape over the rear yard of the property which produces £200 per annum. Termination of the licence is subject to 6 months written notice by either party.
