Predominantly let to The Royal Bank of Scotland plc until 2028 (no breaks)
Rent reviewed to the higher of Open Market Rental Value or a fixed rental increase of 3.75% in 2021
Popular and prosperous town
Nearby occupiers include Marks & Spencer, Tesco Express, WH Smith, Caffè Nero, Boots the Chemist, and New Look
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 2
Auction 7th July 2016
Rent £20,500 per Annum Exclusive
Status Sold
Price £365,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
50 miles north-west of Manchester, 14 miles west of Preston
Roads
A583, A584, M55 (Junction 4)
Rail
St Annes-on-Sea Railway Station
Air
Liverpool John Lennon Airport, Manchester Airport
Situation
Lytham St Annes is a popular and affluent Lancashire resort town famous for the Royal Lytham & St Annes Golf Club, a regular on the Open Championship rotation. The property is situated in a prominent corner position on the busy St Annes Road West and at its junction with Orchard Road in the heart of St Annes-on-Sea. Nearby occupiers include Marks & Spencer, Tesco Express, WH Smith, Caffè Nero, Boots the Chemist and New Look.
Tenure
Virtual Freehold. for a term of 967 years from 25th March 1890 at a fixed rent reserved of £20 per annum exclusive.
Location
Miles
50 miles north-west of Manchester, 14 miles west of Preston
Roads
A583, A584, M55 (Junction 4)
Rail
St Annes-on-Sea Railway Station
Air
Liverpool John Lennon Airport, Manchester Airport
Situation
Lytham St Annes is a popular and affluent Lancashire resort town famous for the Royal Lytham & St Annes Golf Club, a regular on the Open Championship rotation. The property is situated in a prominent corner position on the busy St Annes Road West and at its junction with Orchard Road in the heart of St Annes-on-Sea. Nearby occupiers include Marks & Spencer, Tesco Express, WH Smith, Caffè Nero, Boots the Chemist and New Look.
Tenure
Virtual Freehold. for a term of 967 years from 25th March 1890 at a fixed rent reserved of £20 per annum exclusive.
Description
The property comprises a ground floor banking hall with ancillary accommodation in the basement and self-contained commercial and residential accommodation on the basement, part ground, first and second floors accessed via Orchard Road.
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 Alec Linfield. Tel: 020 7034 4860.
Completion Period
Six Week Completion
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 in the basement and self-contained commercial and residential accommodation on the basement, part ground, first and second floors accessed via Orchard Road.
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 Alec Linfield. Tel: 020 7034 4860.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
26 St Annes Road West
Basement Ground
Ancillary Banking Hall
61.50 sq m 135.45 sq m
(662 sq ft) (1,458 sq ft)
THE ROYAL BANK OF SCOTLAND PLC (1)
Approx 22 years from 13/12/2006 until 11/12/2028
£20,500
11/12/2021 (2) 11/12/2026
1-5 (Odd) Orchard Road
Basement, Ground, First & Second
Residential
–
(–)
INDIVIDUAL
175 years from 31/10/2014 expiring in 2189
Peppercorn
–
Total Commercial
196.95 sq m
(2,120 sq ft)
£20,500
(1) For the year ending 31st December 2015, Royal Bank of Scotland have a market capitalisation of £35.1bn and are 72.6% owned by HM Government (Source: www.investors.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%.
