Entirely let to Bank of Scotland Plc - part of Lloyds Banking Group Plc
New 15 year lease from 29th December 2016 (No Breaks)
Favourable alienation provisions within the lease
Prominent town centre location
VAT-free Bank Investment
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 6
Auction 30th March 2017
Rent £36,400 per Annum Exclusive
Status Sold
Price £776,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
20 miles north-west of Lincoln, 26 miles south-east of Sheffield, 30 miles north-east of Nottingham
Roads
A638, A620, A1(M)
Rail
Retford Railway Station
Air
Robin Hood Doncaster Sheffield
Situation
The property is located on the eastern side of Market Place, which abuts the pedestrianised The Square, and north of the pedestrianised Carolgate, in the heart of Retford town centre. Nearby occupiers include Sports Direct, Argos, New Look and Superdrug, with Costa, Boots the Chemist, Aldi and Peacocks also represented within the town. Located around The Square are other various
banks including branches of Yorkshire, NatWest and TSB banks.
Tenure
Freehold.
Location
Miles
20 miles north-west of Lincoln, 26 miles south-east of Sheffield, 30 miles north-east of Nottingham
Roads
A638, A620, A1(M)
Rail
Retford Railway Station
Air
Robin Hood Doncaster Sheffield
Situation
The property is located on the eastern side of Market Place, which abuts the pedestrianised The Square, and north of the pedestrianised Carolgate, in the heart of Retford town centre. Nearby occupiers include Sports Direct, Argos, New Look and Superdrug, with Costa, Boots the Chemist, Aldi and Peacocks also represented within the town. Located around The Square are other various
banks including branches of Yorkshire, NatWest and TSB banks.
Tenure
Freehold.
Description
The property provides a ground floor banking hall with office accommodation on the first floor.
VAT
VAT is not applicable to this lot.
Note
The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.
Completion Period
Six Week Completion Available
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property provides a ground floor banking hall with office accommodation on the first floor.
VAT
VAT is not applicable to this lot.
Note
The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.
Completion Period
Six Week Completion Available
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
Reviews
Ground First
Banking Hall/Offices Offices
211.73 sq m 77.67 sq m
(2,279 sq ft) (836 sq ft)
BANK OF SCOTLAND PLC (1) t/a Halifax
15 years from 29/12/2016 until 28/12/2031 on a full repairing and insuring lease
£36,400
29/12/2021 and 29/12/2026
Totals
289.40 sq m
(3,115 sq ft)
£36,400
(1) Bank of Scotland was founded in 1695 and is Scotland's oldest bank. In 2009, it was acquired by Lloyds TSB, with the new entity named as Lloyds Banking Group. The acquisition created the largest retail bank in the UK. For the year ending 31st December 2015, Bank of Scotland Plc reported pre-tax profits of £2,653,000,000 and a total net worth of £14,692,000,000 (Sources: www.bankofscotland.co.uk and Experian Group 01/03/2017).
