National Westminster Bank 7 Winwick Street Warrington Cheshire WA1 1XR

  • National Westminster Bank<br>7 Winwick Street<br>Warrington<br>Cheshire<br>WA1 1XR

National Westminster Bank
7 Winwick Street
Warrington
Cheshire
WA1 1XR

Substantial Bank Investment with vacant Upper parts

  • Producing £50,000 per annum exclusive (gross) £49,938.98 p.a.x. (net)
  • Predominantly let to National Westminster Bank plc until 2028 (subject to option)
  • Rent reviewed to the higher of Open Market Rental Value or a fixed rental increase of 3.75% in 2021
  • Vacant possession of upper parts
  • Grade II Listed building (no empty rates)
  • Substantial site with change of use and redevelopment potential (subject to existing lease and consents)
  • Opposite Warrington Bus Station and Golden Square Shopping Centre
  • VAT-free Investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    53
  • Auction
    21st May 2015
  • Rent
    £50,000 per Annum Exclusive
  • Status
    Sold
  • Price
    £495,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Substantial Bank Investment with vacant Upper parts

  • Producing £50,000 per annum exclusive (gross) £49,938.98 p.a.x. (net)
  • Predominantly let to National Westminster Bank plc until 2028 (subject to option)
  • Rent reviewed to the higher of Open Market Rental Value or a fixed rental increase of 3.75% in 2021
  • Vacant possession of upper parts
  • Grade II Listed building (no empty rates)
  • Substantial site with change of use and redevelopment potential (subject to existing lease and consents)
  • Opposite Warrington Bus Station and Golden Square Shopping Centre
  • VAT-free Investment
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 53
  • Auction 21st May 2015
  • Rent £50,000 per Annum Exclusive
  • Status Sold
  • Price £495,000
  • Sector
    Bank
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
17 miles south-west of Manchester, 18 miles east of Liverpool
Roads
A49, A57, M62 (Junction 9)
Rail
Warrington Central Railway Station
Air
Manchester Airport, Liverpool John Lennon Airport
Situation

The property occupies a prominent corner position on the east side of Winwick Street at its junction with Westminster Place and close to Horsemarket Street in the heart of the town centre. The property is directly opposite Warrington Bus Station and Golden Square Shopping Centre housing occupiers including Primark, BHS, Superdrug, Holland & Barrett, Sports Direct and Nando’s. The
Cockhedge Shopping Park, housing occupiers such as Gala Bingo, Asda, Argos, Poundworld and Wilko is located to the rear of the property.

Tenure

Freehold. Part Freehold and Part Long Leasehold for a term of 999 years from 24th June 1886 at a ground rent of £61.02 per annum exclusive.

Location
Miles
17 miles south-west of Manchester, 18 miles east of Liverpool
Roads
A49, A57, M62 (Junction 9)
Rail
Warrington Central Railway Station
Air
Manchester Airport, Liverpool John Lennon Airport
Situation

The property occupies a prominent corner position on the east side of Winwick Street at its junction with Westminster Place and close to Horsemarket Street in the heart of the town centre. The property is directly opposite Warrington Bus Station and Golden Square Shopping Centre housing occupiers including Primark, BHS, Superdrug, Holland & Barrett, Sports Direct and Nando’s. The
Cockhedge Shopping Park, housing occupiers such as Gala Bingo, Asda, Argos, Poundworld and Wilko is located to the rear of the property.

Tenure

Freehold. Part Freehold and Part Long Leasehold for a term of 999 years from 24th June 1886 at a ground rent of £61.02 per annum exclusive.

Description

The property, an attractive period building, comprises a ground floor banking hall with self-contained office accommodation on the first and second floors. The property benefits from substantial parking to the rear together with disused outbuildings.

Six Week Completion

Buyer's Legal 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.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing for this property. All interested parties must register their details with the Auctioneers prior to the viewing date and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

EPC

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

Description

The property, an attractive period building, comprises a ground floor banking hall with self-contained office accommodation on the first and second floors. The property benefits from substantial parking to the rear together with disused outbuildings.

Six Week Completion

Buyer's Legal 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.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing for this property. All interested parties must register their details with the Auctioneers prior to the viewing date and provide identification on site. Please contact Will Moore. Email: will.moore@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 Reviews
Ground Banking Hall
601.44 sq m
(6,474 sq ft)
NATIONAL WESTMINSTER
BANK PLC (1)		 Approx 22 years from 13/12/2006 until 11/12/2028 (2) £50,000 11/12/2021 (3)
11/12/2026
First
Second		 Offices
Offices
173.82 sq m
145.85 sq m
(1,871 sq ft)
(1,570 sq ft)
 VACANT POSSESSION - - -
Totals
921.11 sq m
(9,915 sq ft)
     £50,000

(1) National Westminster Bank plc is a wholly owned subsidiary of Royal Bank of Scotland plc who have a market capitalisation rate of £43bn and are 81% owned by HM Government. (Source: www.natwest.com & www.rbs.com)
(2)The lease provides for a tenant option to determine on 11th December 2016.
(3)The lease provides for the rent to be reviewed at the next rent review on 11th December 2021 to the higher of Open Market Rental Value or a fixed rental increase of 3.75%.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Richard Kaufman 0203 036 7000rkaufman@fladgate.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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