National Westminster Bank 1-3 Market Street Darwen Lancashire BB3 1BN

  • National Westminster Bank<br>1-3 Market Street<br>Darwen<br>Lancashire<br>BB3 1BN

National Westminster Bank
1-3 Market Street
Darwen
Lancashire
BB3 1BN

Attractive Bank/Residential Investment

  • Producing £26,350 per annum exclusive (gross), £26,181.38 p.a.x. (net)
  • Predominantly let to National Westminster Bank plc until 2026 (no breaks)
  • Rent reviewed to the higher of Open Market Rental Value or a fixed rental
  • increase of 3.75% in 2021
  • Prominent town centre corner location close to Darwen Market
  • 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
    60
  • Auction
    21st May 2015
  • Rent
    £26,350 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Attractive Bank/Residential Investment

  • Producing £26,350 per annum exclusive (gross), £26,181.38 p.a.x. (net)
  • Predominantly let to National Westminster Bank plc until 2026 (no breaks)
  • Rent reviewed to the higher of Open Market Rental Value or a fixed rental
  • increase of 3.75% in 2021
  • Prominent town centre corner location close to Darwen Market
  • 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 60
  • Auction 21st May 2015
  • Rent £26,350 per Annum Exclusive
  • Status Sold Post
  • Price  
  • Sector
    Bank
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
4 miles south of Blackburn, 9 miles north of Bolton
Roads
A666, M65 (Junction 4)
Rail
Darwen Railway Station
Air
Manchester Airport
Situation

Darwen is a market town located 4 miles south of Blackburn, close to the M65. The property is prominently situated in a corner position at the junction of Market Street and The Circus. Nearby occupiers include Asda, Iceland, Superdrug, Boots the Chemist, The Co-Operative and Barclays and Santander Banks. Darwen Market, with its own dedicated car park, is located very close to the subject

Tenure

Freehold. Part freehold and part long leasehold, held on two 999 year leases expiring 31st April 2866 and 31st October 2890 at a total ground rent of £168.62 per annum.

Location
Miles
4 miles south of Blackburn, 9 miles north of Bolton
Roads
A666, M65 (Junction 4)
Rail
Darwen Railway Station
Air
Manchester Airport
Situation

Darwen is a market town located 4 miles south of Blackburn, close to the M65. The property is prominently situated in a corner position at the junction of Market Street and The Circus. Nearby occupiers include Asda, Iceland, Superdrug, Boots the Chemist, The Co-Operative and Barclays and Santander Banks. Darwen Market, with its own dedicated car park, is located very close to the subject

Tenure

Freehold. Part freehold and part long leasehold, held on two 999 year leases expiring 31st April 2866 and 31st October 2890 at a total ground rent of £168.62 per annum.

Description

The property, an attractive period building, comprises a ground floor banking hall with ancillary accommodation in the basement and self-contained residential accommodation on the first and attic floors. The property benefits from parking to the rear for approximately 5 cars.

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 ancillary accommodation in the basement and self-contained residential accommodation on the first and attic floors. The property benefits from parking to the rear for approximately 5 cars.

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
Basement
Ground		 Ancillary
Banking Hall
133.41 sq m
223.24 sq m
(1,436 sq ft)
(2,403 sq ft)
NATIONAL WESTMINSTER BANK PLC (1) Approx 20 years from 13/12/2006 until 11/12/2026 £26,050 11/12/2021 (2)
11/12/2026
First & Attic 3 x residential flats
-
(-)
 VINEY GASH PROPERTIES (Flats 1 & 2) MARK JAMES WELLER AND LESLEY JANE TAYLOR (Flat 3) 125 years from 23/06/2003 until 2128 (3) £300 (3) 23/06/2028 & 25 yearly
Totals
356.65 sq m
(3,839 sq ft)
     £26,350

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 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%.
(3) Each residential flat is let on a separate lease each expiring 22nd June 2128, each producing £100 p.a.x.

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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