Yorkshire Bank 7 Linthorpe Road Middlesbrough North Yorkshire TS1 1RE

Yorkshire Bank
7 Linthorpe Road
Middlesbrough
North Yorkshire
TS1 1RE

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 corner location close to Hill Street Shopping Centre which houses retailers including Marks & Spencer, Debenhams and Bargain Buys
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
59
Auction
7th July 2016
Rent
£42,500 per Annum Exclusive
Status
Sold
Price
£477,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of CBRE Receivers

Important Update Interested?

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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 corner location close to Hill Street Shopping Centre which houses retailers including Marks & Spencer, Debenhams and Bargain Buys
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 59
Auction 7th July 2016
Rent £42,500 per Annum Exclusive
Status Sold
Price £477,000
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of CBRE Receivers

Property Information

Location

Miles: 35 miles south of Newcatle upon Tyne, 65 miles north of Leeds
Roads: A66, A19, A1(M)
Rail: Middlesbrough Railway Station
Air: Durham Tees Valley Airport, Newcastle Airport

Situation

The property is situated in a prominent corner position on the western side of Linthorpe Road, the town's prime pedestrianized retail thoroughfare. Hill Street Shopping Centre is located nearby and houses occupiers including Marks & Spencer, Debenhams and Bargain Buys. Other nearby occupiers include JD Wetherspoon, Next, House of Fraser, Poundworld, Nationwide and Halifax banks.

Tenure

Freehold.

Location

Miles: 35 miles south of Newcatle upon Tyne, 65 miles north of Leeds
Roads: A66, A19, A1(M)
Rail: Middlesbrough Railway Station
Air: Durham Tees Valley Airport, Newcastle Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second 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 30th June 2016 at 2.30pm. Interested parties must register their details with the Auctioneers before 27th 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 office and ancillary accommodation on the first and second floors.

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 First Second	Banking Hall/Ancillary Offices/Ancillary Ancillary	215.84 sq m 255.10 sq m 92.81 sq m	(2,323 sq ft) (2,746 sq ft) (999 sq ft)	CLYDESDALE BANK PLC (1) (t/a Yorkshire Bank)	10 years from 2016 on a full repairing and insuring lease (2)	£42,500 (2)	2021 (2026)
Totals		563.75 sq m	(6,068 sq ft)			£42,500 (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 £55,000 p.a.x. Terms have been agreed for a new 10 year lease at a rent of £42,500 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.