Santander Bank, 38 - 39 Queens Square Crawley West Sussex RH10 1HG

  • Santander Bank, 38 - 39 Queens Square<br>Crawley<br>West Sussex<br>RH10 1HG

Santander Bank, 38 - 39 Queens Square
Crawley
West Sussex
RH10 1HG

Freehold Bank Investment

  • Entirely let to Santander UK Plc
  • Tenant in occupation since at least 1991
  • The only Santander branch in Crawley
  • Pedestrianised town centre location opposite The Pavillion Shopping Centre
  • Nearby occupiers include Marks & Spencer, Superdrug, New Look, Costa and Waterstones
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    27
  • Auction
    11th February 2016
  • Rent
    £53,050 per Annum Exclusive
  • Status
    Withdrawn Prior
  • Price
     
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Bank Investment

  • Entirely let to Santander UK Plc
  • Tenant in occupation since at least 1991
  • The only Santander branch in Crawley
  • Pedestrianised town centre location opposite The Pavillion Shopping Centre
  • Nearby occupiers include Marks & Spencer, Superdrug, New Look, Costa and Waterstones
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 27
  • Auction 11th February 2016
  • Rent £53,050 per Annum Exclusive
  • Status Withdrawn Prior
  • Price  
  • Sector
    Bank
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
21 miles north of Brighton, 23 miles west of Tunbridge Wells, 30 miles south of Central London
Roads
A23, A264, M23 (Junctions 10, 10A, 11)
Rail
Crawley Rail Station
Air
London Gatwick Airport
Situation

Crawley is a popular London and Brighton commuter town located approximately 2 miles south of London Gatwick airport. The property is prominently situated on the south side of pedestrianised Queens Square, opposite The Pavillion Shopping Centre and close to its junction with The Broadway in the heart of the town centre. Nearby occupiers include Marks & Spencer, Superdrug, New Look, Costa and Waterstones.

Tenure

Freehold.

Location
Miles
21 miles north of Brighton, 23 miles west of Tunbridge Wells, 30 miles south of Central London
Roads
A23, A264, M23 (Junctions 10, 10A, 11)
Rail
Crawley Rail Station
Air
London Gatwick Airport
Situation

Crawley is a popular London and Brighton commuter town located approximately 2 miles south of London Gatwick airport. The property is prominently situated on the south side of pedestrianised Queens Square, opposite The Pavillion Shopping Centre and close to its junction with The Broadway in the heart of the town centre. Nearby occupiers include Marks & Spencer, Superdrug, New Look, Costa and Waterstones.

Tenure

Freehold.

Description

The property, an interconnecting double fronted banking premises, comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors.

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 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 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 interconnecting double fronted banking premises, comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors.

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 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 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 Reversion
Ground
First
Second 		Banking Hall
Office/Ancillary
Office/Ancillary
170.74 sq m
117.37 sq m
99.54 sq m
(1,838 sq ft)
(1,263 sq ft)
(1,072 sq ft)
 SANTANDER
UK PLC (1)		 Approx 5 years from
25/12/2015 (on two
co-terminous leases) (2)		 £53,050 (3) 31/12/2020
Totals  
387,65 sq m
(4,173 sq ft)
     £53,050

(1) For the year ending 31/12/2014, Santander UK Plc reported pre-tax profits of £1,399,000,000 and a total net worth of £12,006,000,000. (Source: Experian Group 08/01/2016)
(2) The tenant is currently occupying under two leases each for a term of 25 years from 25th December 1990. Heads of Terms to renew these leases for 5 years each from 25/12/2015 have been agreed and are in solicitors’ hands due to complete imminently.
(3) The agreed re-based rents are Unit 38 £26,800 p.a.x and Unit 39 £26,250 p.a.x. equating to approximately £12.71 per sq ft in total.

Contacts

Seller's Solicitors
Pinsent Masons LLP 1 Park Row
Leeds
LS1 5AB
Sarah Barlas 0113 231 4020sarah.barlas@pinsentmasons.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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