Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of Charity Trustees
Property Information
Location
Miles
16 miles north-east of Lincoln, 20 miles south-west of Grimsby
Roads
A46, A631
Rail
Market Rasen Rail (approximately 20 mins to Lincoln Central)
Air
Robin Hood Airport Doncaster/Sheffield
Situation
Market Rasen is a prosperous market town in Lincolnshire and home to the Market Rasen Racecourse. The property is prominently situated within the town centre on the southern side of Market Place, directly opposite the car park. Nearby occupiers include HSBC, Lloyds Bank, Boots Chemist and McColl’s.
Tenure
Freehold.
Location
Miles
16 miles north-east of Lincoln, 20 miles south-west of Grimsby
Roads
A46, A631
Rail
Market Rasen Rail (approximately 20 mins to Lincoln Central)
Air
Robin Hood Airport Doncaster/Sheffield
Situation
Market Rasen is a prosperous market town in Lincolnshire and home to the Market Rasen Racecourse. The property is prominently situated within the town centre on the southern side of Market Place, directly opposite the car park. Nearby occupiers include HSBC, Lloyds Bank, Boots Chemist and McColl’s.
Tenure
Freehold.
Description
The property comprises a banking hall and ancillary accommodation on the ground with basement storage. The first and second floors provide residential accommodation which has been sold off on a long lease. The property benefits from rear access and car parking.
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 block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a banking hall and ancillary accommodation on the ground with basement storage. The first and second floors provide residential accommodation which has been sold off on a long lease. The property benefits from rear access and car parking.
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 block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Telephone: +44 (0)20 7034 4858.
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
185.90 sq m
(2,001 sq ft)
NATIONAL WESTMINSTER BANK (1) (2)
22 years from 13/12/2006 until 11/12/2028 on a full repairing and insuring lease (3)
£17,000
11/12/2021 (4)
First Second
Residential Residential
– –
– –
INDIVIDUAL
125 years from 27/01/2015 until 26/01/2140
£250
27/01/2040 and 25 yearly
Total Commercial Floor Area
185.90 sq m
(2,001 sq ft)
£17,250
(1) National Westminster Bank plc is a wholly owned subsidiary of Royal Bank of Scotland plc who have a market capitalisation of £43bn and are 81% owned by HM Government. (Source: www.natwest.com & www.rbs.com 03/06/2015) (2)The agent for the tenant has confirmed that the branch will be closing from 01/09/2015. The Bank is aware of its on-going lease obligations until lease expiry in 2028. Please refer to the legal pack for further information. (3)There is a service charge cap rising annually in line with RPI. (4)The rent is reviewed to the higher of open market rental value or 3.75%.
Contacts
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard London EC4M 8AL
