For the Seller's Legal Pack, please click the Property Documents tab below
Lot 63
Auction 19th May 2016
Rent £145,000 per Annum Exclusive
Status Sold
Price £935,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation
The property is prominently situated in the heart of the city centre on the northern side of New George Street, one of the towns principal pedestrianised retail thoroughfares. Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland.
Tenure
Long Leasehold. Held from Plymouth City Council for a term of 125 years from 29/03/1996 until 28/03/2121 at a rent of £13,775 p.a. reviewed to 9.5% of the rent paid by the occupational tenant.
Location
Miles
7 miles south-west of Dartmoor National Park, 40 miles south-west of Exeter
Roads
A38, A386, A388
Rail
Plymouth Railway Station
Air
Exeter International Airport, Cornwall Airport Newquay
Situation
The property is prominently situated in the heart of the city centre on the northern side of New George Street, one of the towns principal pedestrianised retail thoroughfares. Nearby occupiers include Sports Direct, Boots, WHSmith, Superdrug and Poundland.
Tenure
Long Leasehold. Held from Plymouth City Council for a term of 125 years from 29/03/1996 until 28/03/2121 at a rent of £13,775 p.a. reviewed to 9.5% of the rent paid by the occupational tenant.
Description
The property comprises a ground floor banking hall with ancillary accommodation on the basement, first and second floors.
Six Week Completion
VAT
VAT is applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
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 ancillary accommodation on the basement, first and second floors.
Six Week Completion
VAT
VAT is applicable to this lot.
Viewings
There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
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
Banking Hall
188.06 sq m
(2,024 sq ft)
SANTANDER UK PLC (1)
Approx.4 years 9 months from 25/03/2016 on a full repairing and insuring lease (2)
£145,000
31/12/2020
Basement
Ancillary
8.26 sq m
(89 sq ft)
First
Ancillary
128.23 sq m
(1,380 sq ft)
Second
Ancillary
166.84 sq m
(1,796 sq ft)
Total
491.89 sq m
(5,289 sq ft)
£145,000
(1) For the year ending 31st December 2015 Santander UK Plc reported pre-tax profits of £1,345,000,000 and a total net worth of £13,279,000,000. (Source: Experian Group 18/04/2016) (2) Santander previously occupied the property on a 25 year lease
Contacts
Seller's Solicitors
CMS Cameron McKenna Nabarro Olswang LLP 1 South Quay, Victoria Quays Sheffield S2 5SY
