Yorkshire Bank 35 - 37 High Row Darlington County Durham DL3 7QT

Yorkshire Bank
35 - 37 High Row
Darlington
County Durham
DL3 7QT

Freehold Bank Investment

Entirely let to Clydesdale Bank Plc t/a Yorkshire Bank
10 year lease renewal until 2026 (subject to option) at a re-based rent
Tenant in occupation since at least 1999
Prominent town centre location close to Cornmill Shopping Centre, housing retailers including Primark, Next, JD Sports and Topshop
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
32
Auction
7th July 2016
Rent
£40,250 per Annum Exclusive
Status
Sold
Price
£520,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of Receivers CBRE

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Freehold Bank Investment

Entirely let to Clydesdale Bank Plc t/a Yorkshire Bank
10 year lease renewal until 2026 (subject to option) at a re-based rent
Tenant in occupation since at least 1999
Prominent town centre location close to Cornmill Shopping Centre, housing retailers including Primark, Next, JD Sports and Topshop
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 32
Auction 7th July 2016
Rent £40,250 per Annum Exclusive
Status Sold
Price £520,000
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On behalf of Receivers CBRE

Property Information

Location

Miles: 20 miles south of Durham; 35 miles south of Newcastle-upon-Tyne
Roads: A1 (M), A66, A68, A167
Rail: Darlington Railway Station
Air: Durham Tees Valley Airport

Situation

The property occupies a prominent position on the pedestrianised High Row, close to its junction with Prospect Place, in the heart of the town centre. Cornmill Shopping Centre is located close by housing retailers including Primark, Next, JD Sports, Topshop, TK Maxx and Bonmarche. Other nearby occupiers include Poundland, River Island, Boots the Chemist and branches of Natwest, Santander and HSBC banks.

Tenure

Freehold.

Location

Miles: 20 miles south of Durham; 35 miles south of Newcastle-upon-Tyne
Roads: A1 (M), A66, A68, A167
Rail: Darlington Railway Station
Air: Durham Tees Valley Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation on the first floor and basement.

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 1st July 2016 at 10.00am. Interested parties must register their details with the Auctioneers by 28th 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 on the first floor and basement.

VAT

VAT is not applicable to this lot.

Note

Viewings

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	175.00 sq m 104.14 sq m 24.34 sq m	(1,884 sq ft) (1,121 sq ft) (262 sq ft)	CLYDESDALE BANK PLC (1) (t/a Yorkshire Bank)	10 years from 2016 on a full repairing and insuring lease (2)	£40,250 (2)	2021 (2026)
Total		303.48 sq m	(3,267 sq ft)			£40,250 (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 £70,000 p.a.x. Terms have been agreed for a new 10 year lease at a rent of £40,250 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 a tenant option to determine on the 5th anniversary of the term.