Tenants include Clydesdale Bank plc and Barclays Bank plc
Prominent corner position close to Britannia Shopping Centre
Asset management opportunities
Nearby occupiers include Wilko, Boots, Greggs and New Look
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 84
Auction 13th October 2016
Rent £111,250 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On Behalf of a Major Fund Manager
Property Information
Location
Miles
13 miles south-west of Leicester, 4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation
The property is situated in a prominent pedestrianised corner location fronting Market Place and The Borough, at its junction with Castle Street, the town’s prime retailing thoroughfare. The Britannia Shopping Centre is a short walk away and houses occupiers including Wilko, Boots, Greggs and New Look. Other nearby occupiers include Coral Betting Shop, NatWest, Clarks, Dorothy Perkins and HSBC.
Tenure
Freehold.
Location
Miles
13 miles south-west of Leicester, 4 miles north-east of Nuneaton
Roads
A47, M69, A50
Rail
Hinckley Rail
Air
Birmingham International Airport
Situation
The property is situated in a prominent pedestrianised corner location fronting Market Place and The Borough, at its junction with Castle Street, the town’s prime retailing thoroughfare. The Britannia Shopping Centre is a short walk away and houses occupiers including Wilko, Boots, Greggs and New Look. Other nearby occupiers include Coral Betting Shop, NatWest, Clarks, Dorothy Perkins and HSBC.
Tenure
Freehold.
Description
The property comprises three retail/banking units and two self-contained office/ancilliary units.
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 three retail/banking units and two self-contained office/ancilliary units.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/(Reversion)
1 & 2 Market Place
Ground/First
Bank/Ancillary
336.03 sq m
(3,617 sq ft)
CLYDESDALE BANK PLC (t/a Yorkshire Bank) (1)
10 years from and including 10/08/2009
£53,250
(09/08/2019)
3 Market Place
Ground
Retail/Ancillary
117.06 sq m
(1,260 sq ft)
INDIVIDUALS (t/a Coffee Rio)
15 years from 01/06/2006
£30,000
01/06/2018
4 The Borough
Ground/First
Bank/Ancillary and ATM
184.50 sq m
(1,986 sq ft)
BARCLAYS BANK PLC (2)
Approx 17 years 9 months from and including 29/09/2009 until 21/06/2027 (3)
£28,000
29/09/2014 (4) 29/09/2019
3A Market Place
First
Office
97.83 sq m
(1,053 sq ft)
VACANT POSSESSION
Market Room
Ground
Ancillary
11.61 sq m
(125 sq ft)
VACANT POSSESSION
Totals
747.03 sq m
(8,041 sq ft)
£111,250
(1) Yorkshire Bank is a trading name of Clydesdale Bank Plc. Founded in 1859, Yorkshire Bank has 182 retail branches plus 22 business and private banking centres. (Source: www.ybonline.co.uk 23/02/2016) (2) For the year ending 31st December 2014, Barclays Bank Plc reported pre-tax profits of £2,309,000,000 and a total net worth of £55,576,000,000. (Source: Experian Group 23/02/2016) (3) The lease to Barclays Bank Plc provides an option to determine on 21st June 2022. The tenant also occupies an interconnecting adjoining property. The demise being offered for sale comprises banking ancillary accommodation and provides an ATM and access fronting Market Place. (4) The 2014 rent review is outstanding.
Contacts
Seller's Solicitors
Irwin Mitchell LLP 40 Holborn Viaduct London EC1N 2PZ
