Let to Barclays Bank Plc until 2028 (subject to option)
Prominent corner position fronting Commercial Street
The tenant has recently completed a refurbishment programme, details of which are available in the legal pack
Nearby occupiers include Debenhams, Sports Direct, Iceland and WH Smith
VAT-free bank investment
Lot 60
Auction 19th October 2017
Rent £155,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation
The property occupies a prominent corner position, fronting the prime pedestrianised Commercial Street and returning onto Corn Street, Newport's principal retailing thoroughfare. Friars Walk Shopping Centre is located less than 150 metres from the property, housing retailers including Debenhams, M&S Food Hall, New Look and Topshop. Other occupiers on Commercial Street include Boots the Chemist, WH Smith, Sports Direct, Costa, Starbucks and branches of Halifax, Santander and TSB banks.
Tenure
Freehold.
Location
Miles
12 miles north-east of Cardiff
Roads
A48, A449, A4042, M4
Rail
Newport Railway Station
Air
Cardiff Airport
Situation
The property occupies a prominent corner position, fronting the prime pedestrianised Commercial Street and returning onto Corn Street, Newport's principal retailing thoroughfare. Friars Walk Shopping Centre is located less than 150 metres from the property, housing retailers including Debenhams, M&S Food Hall, New Look and Topshop. Other occupiers on Commercial Street include Boots the Chemist, WH Smith, Sports Direct, Costa, Starbucks and branches of Halifax, Santander and TSB banks.
Tenure
Freehold.
Description
The property, a substantial Grade II listed building, comprises a ground floor banking hall, with ancillary accommodation on the basement and office accommodation on the first, second and third floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, a substantial Grade II listed building, comprises a ground floor banking hall, with ancillary accommodation on the basement and office accommodation on the first, second and third floors.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Review/ (Reversion)
Ground Basement First Second Third
Banking Hall Ancillary Offices Offices Offices
359.46 sq m 228.20 sq m 295.17 sq m 290.77 sq m 272.49 sq m
20 years from 22/01/2008 (2) on a full repairing and insuring lease
£155,000
25/03/2019 (21/01/2028)
Totals
1,446.09 sq m
(15,565 sq ft)
£155,000
(1) For the year ending 31st December 2016, Barclays Bank Plc reported pre-tax profits of £4,383,000,000 and a total net worth of £60,085,000,000 (Source: Experian Group 19/09/2017). (2) The lease is subject to a tenant option to determine on 22nd January 2023 and a schedule of condition.
