84 - 86 High Road Ilford Greater London IG1 1BU

84 - 86 High Road
Ilford
Greater London
IG1 1BU

Freehold Bank Investment

  • Let to Bank of Scotland plc until 2026 (subject to option)
  • Renewal of a previous lease
  • Prime town centre location
  • Neighbouring occupiers include Primark, Boots, Marks & Spencer, Next, Vodafone and Carphone Warehouse
  • 6 Week Completion Available
  • Lot
    16
  • Auction
    29th March 2012
  • Rent
    £177,500 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    Bank
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
  • On behalf of a Major Fund
Important Update
  • Expand
  • Photos
  • Map

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

Freehold Bank Investment

  • Let to Bank of Scotland plc until 2026 (subject to option)
  • Renewal of a previous lease
  • Prime town centre location
  • Neighbouring occupiers include Primark, Boots, Marks & Spencer, Next, Vodafone and Carphone Warehouse
  • 6 Week Completion Available
  • Lot 16
  • Auction 29th March 2012
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    Bank
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
  • On behalf of a Major Fund

Property Information

Location
Miles
9 miles east of the City of London, 6 miles east of the Olympic Park, 6 miles north of Canary Wharf
Roads
M11, North Circular Road (A406), A12
Rail
Ilford Rail, Newbury Park Underground Station (Central Line)
Air
London City Airport, London Stansted Airport
Situation

The property is prominently situated in a prime position on the south side of High Road at its junction with Clements Road and close to the major Cranbroook Road junction. Neighbouring occupiers include a newly modernised Barclays Bank Jumbo Branch, Primark, Nationwide Building Society, Boots and Marks & Spencer.

Tenure

Freehold.

Location
Miles
9 miles east of the City of London, 6 miles east of the Olympic Park, 6 miles north of Canary Wharf
Roads
M11, North Circular Road (A406), A12
Rail
Ilford Rail, Newbury Park Underground Station (Central Line)
Air
London City Airport, London Stansted Airport
Situation

The property is prominently situated in a prime position on the south side of High Road at its junction with Clements Road and close to the major Cranbroook Road junction. Neighbouring occupiers include a newly modernised Barclays Bank Jumbo Branch, Primark, Nationwide Building Society, Boots and Marks & Spencer.

Tenure

Freehold.

Description

The property is a substantial traditional building comprising a modern banking hall on the ground floor, ancillary accommodation in the basement, office accommodation on the first floor and ancillary accommodation on the second floor. The property benefits from a return frontage and rear access via Postway Mews.

6 Week Completion Available

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is a substantial traditional building comprising a modern banking hall on the ground floor, ancillary accommodation in the basement, office accommodation on the first floor and ancillary accommodation on the second floor. The property benefits from a return frontage and rear access via Postway Mews.

6 Week Completion Available

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Basement
Ground Floor
First Floor
Second
Ancillary
Banking Hall
Offices
Ancillary
203.17 sq m
305.18 sq m
292.64 sq m
293.85 sq m
(2,187 sq ft)
(3,285 sq ft)
(3,150 sq ft)
(3,163 sq ft)

BANK OF
SCOTLAND PLC (1)
(t/a Halifax)
15 years from 25th March
2011 until 2026 on a full
repairing and Insuring lease
(2)
£177,500 (3) 2016 and 2021
 
Totals  
1,094.84 sq m
(11,785 sq ft)
    £177,500 (3)  

(1) Bank of Scotland plc are part of Lloyds Banking Group which was renamed from Lloyds TSB Group plc following their acquisition of HBOS plc in 2009. Lloyds Banking Group serves some 30 million people. For the year ending 31st December 2011 Bank of Scotland plc reported pre-tax profits of negative £3,871,000,000 and a net worth of £19,609,000,000. (Source: Riskdisk 30/01/2012).

(2) The lease provides for a tenant option to determine the lease on or after 25th March 2021, on six months’ notice.

(3) The lease provides for a rent free period until 24th September 2012 after which the rent will be the higher of £177,500 per annum exclusive or Open Market Rental Value. The seller will pay the buyer or allow against the completion monies the rent equivalent to £177,500 per annum exclusive , that would have been due in the absence of the rent free period. Therefore the property will produce £177,500 per annum exclusive from completion of the sale.

Property Documents

  • Catalogue Page
    Updated Date
    23.09.15
    File Size
    254 KB
    View PDF
  • Site Plan
    Updated Date
    23.09.15
    File Size
    87 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
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Martin SzamfeberMartin Szamfeber +44 (0)20 7034 4858 martin.szamfeber@acuitus.co.uk

Useful Links

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

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