82 London Road North End Portsmouth Hampshire PO2 0LU

82 London Road
North End
Portsmouth
Hampshire
PO2 0LU

Freehold Bank Investment

Let to Barclays Bank plc on a 20 year lease until 2026 (subject to options)
Prominent corner position on busy London Road
Nearby occupiers include Iceland, Co-Operative, Subway, Shoe Zone, Sainsbury’s Local and McDonald’s
Six Week Completion

Lot
50
Auction
27th March 2014
Rent
£41,950 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Bank Investment

Let to Barclays Bank plc on a 20 year lease until 2026 (subject to options)
Prominent corner position on busy London Road
Nearby occupiers include Iceland, Co-Operative, Subway, Shoe Zone, Sainsbury’s Local and McDonald’s
Six Week Completion

Lot 50
Auction 27th March 2014
Rent £41,950 per Annum Exclusive
Status Sold Prior
Price
Sector
Bank
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: London 75 miles; Southampton 19 miles; Chichester 18 miles
Roads: M275, M27, A27, A3
Rail: Portsmouth and Southsea 2 miles
Air: Southampton International Airport 20 miles

Situation

The property is situated in a prominent corner location on the east side of London Road at its junction with Laburnham Grove in the North End area of the City of Portsmouth. London Road is the busy local high street of this densely populated inner suburb and is home to many well known national retailers.

Tenure

Freehold.

Location

Miles: London 75 miles; Southampton 19 miles; Chichester 18 miles
Roads: M275, M27, A27, A3
Rail: Portsmouth and Southsea 2 miles
Air: Southampton International Airport 20 miles

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors. The property was probably constructed in the 1970’s to bank specifications and the return frontage to Laburnham Grove has two ATM’s fitted by the tenants.

VAT

VAT is not applicable to this lot.

Viewings

There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.

EPC

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

Description

VAT

VAT is not applicable to this lot.

Viewings

There will only be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site.

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
Ground First Second	Banking Hall and Ancillary Office and Ancillary Office and Ancillary	170.66 sq m 106.10 sq m 104.42 sq m	(1,837 sq ft) (1,142 sq ft) (1,124 sq ft)	BARCLAYS BANK PLC (1)	20 years from 28/04/2006 until 27/04/2026 (2)	£41,950	31/12/2017 and 31/12/2022
Totals		381.18 sq m	(4,103 sq ft)			£41,950

(1) For the year ending 31/12/2012, Barclays Bank plc reported pre-tax profits of £99,000,000 and a total net worth of £52,063,000,000. (Source: www.riskdisk.com 09/01/2014)
(2)The tenant has an option to determine the lease at the end of the 10th and 15th years of the term.