Clydesdale Bank PLC 64 High Street Dunfermline Fife KY12 7DF

Clydesdale Bank PLC
64 High Street
Dunfermline
Fife
KY12 7DF

Heritable Bank Investment

Entirely Let to Clydesdale Bank PLC (wholly owned by Nationwide Building Society) t/a Virgin Money
Recently Extended lease for 10 years (subject to options)
Tenant in occupation for over 25 years
Tenant currently undertaking refurbishment program
Recently rebased rent
Prominent corner position on pedestrianised High Street
Nearby occupiers include Santander, Yorkshire Building Society, Clarks, Poundstretcher, Trespass, Savers and WHSmith.
VAT Free Investment

Lot
18
Auction
12th December 2024
Rent
£62,500 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
Live Streamed Auction

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Heritable Bank Investment

Entirely Let to Clydesdale Bank PLC (wholly owned by Nationwide Building Society) t/a Virgin Money
Recently Extended lease for 10 years (subject to options)
Tenant in occupation for over 25 years
Tenant currently undertaking refurbishment program
Recently rebased rent
Prominent corner position on pedestrianised High Street
Nearby occupiers include Santander, Yorkshire Building Society, Clarks, Poundstretcher, Trespass, Savers and WHSmith.
VAT Free Investment

Lot 18
Auction 12th December 2024
Rent £62,500 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Bank
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 18 miles north-west of Edinburgh, 22 miles east of Stirling
Roads: M90, A92, A985
Rail: Dunfermline Town, Queen Margaret (40 minutes to Edinburgh Waverley)
Air: Edinburgh International Airport (11 miles south)

Situation

The property is situated in a prominent corner position on the northern side of the pedestrianised High Street, the town’s main retailing thoroughfare. Nearby occupiers include Santander, Yorkshire Building Society, Clarks, Poundstretcher, Trespass, Savers and WHSmith.

Tenure

Heritable.

Location

Miles: 18 miles north-west of Edinburgh, 22 miles east of Stirling
Roads: M90, A92, A985
Rail: Dunfermline Town, Queen Margaret (40 minutes to Edinburgh Waverley)
Air: Edinburgh International Airport (11 miles south)

Situation

Tenure

Heritable.

Description

The property comprises a substantial bank building providing a ground floor banking hall with office accommodation on the upper three floors.

The tenant is currently undertaking substantial works at the property.

VAT

VAT is not applicable to this lot.

EPC

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

Description

VAT

VAT is not 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 sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground First Second Third	Banking Hall Office Office Office	177.59 182.89 193.63 92.31	(1,911) (1,968) (2,084) (993)	CLYDESDALE BANK PLC t/a Virgin Money (1)	10 year lease extension from 01/10/2024 (2)	£62,500	01/10/2029
Total		646.42	(6,956) (3)			£62,500

(1) For the year ending 30/09/2023 Clydesdale Bank PLC reported a Turnover of £3,973,000,000, a Pre-Tax Profit of £344,000,000 and a Net Worth of £5,516,000,000 (NorthRow 14/11/2024). Clydesdale Bank PLC is owned by Nationwide Building Society.
(2) The original lease was for a term of 25 years from 30/09/1999 which has recently been extended at a rebased rent for a further 10 years. The extended lease provides for a tenant option to determine on 30/09/2027 and 30/09/2030.
(3) The floor areas stated above are those published by the Scottish Assessors Association (www.saa.gov.uk).

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.