Let to Barclays Bank Plc until 2028 (subject to option)
Prominent corner position on High Street
Popular tourist destination
Nearby occupiers include Boots the Chemist, HSBC, Lloyds Bank and The Co-operative Food
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 12
Auction 16th February 2017
Rent £47,250 per Annum Exclusive
Status Sold
Price £684,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
9 miles north of Penzance, 25 miles south-west of Truro, 75 miles west of Plymouth
Roads
A3074, A30
Rail
St Ives Railway Station
Air
Cornwall Airport Newquay
Situation
St Ives is a popular and important tourist destination situated on the northern coast of Cornwall. The property is prominently situated in a prime position on busy High Street at its junction with Tregenna Place and benefits from a return frontage on Bedford Road. Nearby occupiers include Boots the Chemist, HSBC, Lloyds Bank, Fat Face and The Co-operative Food.
Tenure
Freehold.
Location
Miles
9 miles north of Penzance, 25 miles south-west of Truro, 75 miles west of Plymouth
Roads
A3074, A30
Rail
St Ives Railway Station
Air
Cornwall Airport Newquay
Situation
St Ives is a popular and important tourist destination situated on the northern coast of Cornwall. The property is prominently situated in a prime position on busy High Street at its junction with Tregenna Place and benefits from a return frontage on Bedford Road. Nearby occupiers include Boots the Chemist, HSBC, Lloyds Bank, Fat Face and The Co-operative Food.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall and offices with ancillary accommodation on part of the first floor. In addition, there are two self-contained residential flats on the remainder of the first and second floors. The property also benefits from a garage to the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be one block viewing date for this property.
Please contact Alec Linfield. Telephone: +44 (0)20 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 and offices with ancillary accommodation on part of the first floor. In addition, there are two self-contained residential flats on the remainder of the first and second floors. The property also benefits from a garage to the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be one block viewing date for this property.
Please contact Alec Linfield. Telephone: +44 (0)20 7034 4860.
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) (3)
Tenant
Term
Rent p.a.x
Review/(Reversion)
Ground
First
Banking Hall/Sales Area (3) Storage Side Office Vault & Strong Room (Approx Ground Floor Area) Staff Room Storeroom
77.65 sq m 2.79 sq m 19.32 sq m 25.08 sq m 142.92 sq m 11.98 sq m 3.53 sq m
Approximately 20 years from 21/05/2008 on a full repairing and insuring lease (2)
£47,250
29/09/2017 29/09/2022 (29/09/2027)
First/Second
Residential
2 x Self-Contained Flats
INDIVIDUALS
125 years from 2005
Peppercorn
Total Commercial Areas (3)
158.43 sq m
(1,705 sq ft)
£47,250
(1) For the year ending 31st December 2015, Barclays Bank Plc reported pre tax profits of £2,841,000,000 and a total net worth of £55,845,000,000. (Source: www.experian.co.uk 20/01/2017) (2) The lease provides for a tenant option to determine the lease on 20/05/2023 and is subject to a schedule of condition. (3) The floor areas above have been used by the Arbitrator at the 2012 Rent Review. The banking hall/sales area is expressed In Terms of Zone A (ITZA).
