Entirely let to Lloyds Bank plc until 2021 (subject to option)
Tenant in occupation for at least 18 years
Prominent corner position
Nearby occupiers include Ladbrokes, Co-op and Betfred
<a href="/media/31634/legal title report - v3.pdf" target="_blank" title="legal title report">Legal Title Report available here</a>
Lot 11
Auction 23rd October 2014
Rent £15,000 per Annum Exclusive
Status Sold
Price £234,000
Sector Bank
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of Administrators Zolfo Cooper
Property Information
Location
Miles
2 miles south-east of Portsmouth City Centre
16 miles south-west of Chichester
18 miles south east of Southampton
Roads
A288, A27, M27 (Junction 12)
Rail
Portsmouth & Southsea Rail Station, Fratton Rail Station
Air
Southampton Airport
Situation
Milton is a suburb of Southsea located some 2 miles south-east of Portsmouth City Centre. The property is situated on the east side of Eastney Road (A228), which provides direct links to the A27 and M27 to the north. Nearby occupiers include Ladbrokes, Co-op and Betfred.
Tenure
Freehold.
Location
Miles
2 miles south-east of Portsmouth City Centre
16 miles south-west of Chichester
18 miles south east of Southampton
Roads
A288, A27, M27 (Junction 12)
Rail
Portsmouth & Southsea Rail Station, Fratton Rail Station
Air
Southampton Airport
Situation
Milton is a suburb of Southsea located some 2 miles south-east of Portsmouth City Centre. The property is situated on the east side of Eastney Road (A228), which provides direct links to the A27 and M27 to the north. Nearby occupiers include Ladbrokes, Co-op and Betfred.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with first floor ancillary accommodation.
Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
Note
This property is being marketed for sale on behalf of Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will be one block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Henry Wilkinson. Tel: +44 (0)20 7034 4861. Email: henry.wilkinson@acuitus.co.uk
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 first floor ancillary accommodation.
Legal Title Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
Note
This property is being marketed for sale on behalf of Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Administrators to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Administrators are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will be one block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Henry Wilkinson. Tel: +44 (0)20 7034 4861. Email: henry.wilkinson@acuitus.co.uk
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 First
Banking Hall/Ancillary Ancillary
153.42 sq m 76.42 sq m
(1,651 sq ft) (823 sq ft)
LLOYDS BANK PLC (1)
10 years from 24/06/2011 on a full repairing and insuring lease (2)
£15,000 (2)
24/06/2016 (23/06/2021)
Totals
229.84 sq m
(2,474 sq ft)
£15,000 (2)
(1) For the year ending 31st December 2013, Lloyds Bank plc reported a pre-tax profit of £894,000,000 and a net worth of £34,109,000,000. (Source: www.riskdisk.com 20/08/2014) (2)The lease provides for a tenant’s option to determine on the 23rd June 2016 on 6 months’ written notice. If the option to determine is not activated, the tenant will benefit from a 6 month rent free period from 24th June 2016.
Contacts
Seller's Solicitors
Addleshaw Goddard LLP One St. Peter's Square Manchester M2 3DE
