Entirely let to Clydesdale Bank Plc t/a Yorkshire Bank
10 year lease renewal until 2026 (subject to options) at a re-based rent
Tenant in occupation since at least 1999
Nearby retailers include TK Maxx, WH Smith, Boots the Chemist and Fat Face
Gateway to the Lake District
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 9
Auction 7th July 2016
Rent £46,750 per Annum Exclusive
Status Sold
Price £580,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On behalf of CBRE Receivers
Property Information
Location
Miles
47 miles south of Carlisle, 70 miles north of Manchester, 8 miles east of Windermere
Roads
A6, A590, A684, M6 (Junction 36)
Rail
Kendal Rail Station
Air
Newcastle Airport
Situation
The property occupies a prominent corner position on the eastern side of Stricklandgate, at the junction of Highgate and Finkle Street, in the heart of the town centre. Westmorland Shopping Centre is a short walk away housing occupiers including Poundland, Boots the Chemist, Peacocks and Topshop. Other occupiers in the town include TK Maxx, New Look, WH Smith and branches of Barclays, Halifax and Santander banks. There is a public car park with parking for approximately 300 cars close by.
Tenure
Freehold.
Location
Miles
47 miles south of Carlisle, 70 miles north of Manchester, 8 miles east of Windermere
Roads
A6, A590, A684, M6 (Junction 36)
Rail
Kendal Rail Station
Air
Newcastle Airport
Situation
The property occupies a prominent corner position on the eastern side of Stricklandgate, at the junction of Highgate and Finkle Street, in the heart of the town centre. Westmorland Shopping Centre is a short walk away housing occupiers including Poundland, Boots the Chemist, Peacocks and Topshop. Other occupiers in the town include TK Maxx, New Look, WH Smith and branches of Barclays, Halifax and Santander banks. There is a public car park with parking for approximately 300 cars close by.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall, with ancillary accommodation at basement and first floors.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Viewings
There will be a single block viewing for this property on 28th June 2016 at 10.30am. Interested parties must register their details with the Auctioneers by 25th June 2016 and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk
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 at basement and first floors.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Viewings
There will be a single block viewing for this property on 28th June 2016 at 10.30am. Interested parties must register their details with the Auctioneers by 25th June 2016 and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk
Completion Period
Six Week Completion
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 Basement First
Banking Hall/Ancillary Ancillary Ancillary
91.20 sq m 81.29 sq m 75.25 sq m
(982 sq ft) (875 sq ft) (810 sq ft)
CLYDESDALE BANK PLC (1) (t/a Yorkshire Bank)
10 years from 2016 on a full repairing & insuring lease (2)
£46,750 (2)
2021 (2026)
Total
247.74 sq m
(2,667 sq ft)
£46,750 (2)
(1) Founded in Glasgow in 1838, Clydesdale Bank plc is one of the largest banks in Scotland. Yorkshire Bank is a trading name of Clydesdale Bank plc and joined the Group in 1990, operating from over 150 branches and 22 business and private banking centres in the UK. (Source: www.cybg.com) (2) The tenant is currently holding over on a 15 year lease from 5th October 1999 at a rent of £51,500 p.a.x. Terms have been agreed for a new 10 year lease at a rent of £46,750 p.a.x, with a rent review on the 5th anniversary of the term, and is in solicitor’s hands due to complete imminently. The lease will be subject to tenant options to determine on the 3rd and 5th anniversaries of the term.
Contacts
Seller's Solicitors
Walker Morris LLP Kings Court, 12 King Street Leeds LS1 2HL
