Barclays lease expires in 2028 (subject to option)
Recently refurbished offices on first floor
Potential to convert first floor to residential (subject to planning and consents)
Historic Royal town with famous castle
VAT-free bank investment
Lot 26
Auction 7th December 2017
Rent £11,700 per Annum
Status Sold
Price £155,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south-west of Bangor, 24 miles south-west of Colwyn Bay
Roads
A487, A4086
Air
Liverpool John Lennon Airport
Situation
Caernarfon is an historic Royal town on the eastern shore of the Menai Strait, famous for its breathtaking castle. The property is prominently situated on the western side of Bangor Street, which connects to Eastgate Street and North Penrallt, in the heart of the town centre. JD Wetherspoon occupy a public house nearby, with Costa, Iceland and Peacocks amongst other national retailers also represented within the town.
Tenure
Freehold.
Location
Miles
7 miles south-west of Bangor, 24 miles south-west of Colwyn Bay
Roads
A487, A4086
Air
Liverpool John Lennon Airport
Situation
Caernarfon is an historic Royal town on the eastern shore of the Menai Strait, famous for its breathtaking castle. The property is prominently situated on the western side of Bangor Street, which connects to Eastgate Street and North Penrallt, in the heart of the town centre. JD Wetherspoon occupy a public house nearby, with Costa, Iceland and Peacocks amongst other national retailers also represented within the town.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with basement ancillary accommodation storage and recently refurbished self-contained offices on the first floor, accessed from Bangor Street.
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 comprises a ground floor banking hall with basement ancillary accommodation storage and recently refurbished self-contained offices on the first floor, accessed from Bangor Street.
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
Reviews
Ground
Basement
Banking Hall/Ancillary Ancillary
99.18 sq m
43.10 sq m
(1,068 sq ft)
(464 sq ft)
BARCLAYS BANK PLC (1)
20 years from 21/05/2008 until 20/05/2028 (2)
£11,700
25/03/2019 25/03/2024
First
Offices
77.73 sq m
(837 sq ft)
VACANT
-
-
-
Totals
220.01 sq m
(2,369 sq ft)
£11,700
(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 30/10/2017). (2) The lease provides for a tenant option to determine in May 2023.
