61 High Street Banbury Oxfordshire OX16 5DZ

61 High Street
Banbury
Oxfordshire
OX16 5DZ

Freehold Bank Investment

Entirely let to TSB Bank Plc on assignment from Cheltenham & Gloucester Plc
Tenant option to renew the lease until 2036
2016 tenant break option NOT exercised
Neighbouring occupiers include Tesco Express, KFC, William Hill, Iceland, Greggs and Cash Converters
VAT-free investment

Lot
13
Auction
19th October 2017
Rent
£67,000 per Annum Exclusive
Status
Sold
Price
£835,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Bank Investment

Entirely let to TSB Bank Plc on assignment from Cheltenham & Gloucester Plc
Tenant option to renew the lease until 2036
2016 tenant break option NOT exercised
Neighbouring occupiers include Tesco Express, KFC, William Hill, Iceland, Greggs and Cash Converters
VAT-free investment

Lot 13
Auction 19th October 2017
Rent £67,000 per Annum Exclusive
Status Sold
Price £835,000
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 64 miles north-west of London, 38 miles south-east of Birmingham, 22 miles north of Oxford
Roads: A361, A423, A422, M40 (Junction 11)
Rail: Banbury Railway Station
Air: Birmingham Airport

Situation

Banbury is a popular Oxfordshire market town some 64 miles north-west of London. The property is prominently located in the town centre, fronting the north side of the High Street approximately 30 metres from the pedestrianised retailing zone. Neighbouring occupiers include Tesco Express, KFC, William Hill, Iceland, Greggs and Cash Converters.

Tenure

Freehold.

Location

Miles: 64 miles north-west of London, 38 miles south-east of Birmingham, 22 miles north of Oxford
Roads: A361, A423, A422, M40 (Junction 11)
Rail: Banbury Railway Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall and basement ancillary accommodation which is accessed via a hatch, with self-contained office accommodation on the first and second floors. The office accommodation benefits from a separate access on High Street. The banking hall benefits from a significant glazed frontage.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

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	Reversion
Ground Basement First Second	Banking Hall Ancillary Offices/Ancillary Offices/Ancillary	121.8 sq m 51.1 sq m 47.4 sq m 43.5 sq m	(1,312 sq ft) (550 sq ft) (510 sq ft) (468 sq ft)	TSB BANK PLC (1) on assignment from Cheltenham & Gloucester plc (3)	15 years from 21/12/2006 (2)	£67,000	20/12/2021. Tenant option to renew until 2036
Total		263.8 sq m	(2,840 sq ft)			£67,000

(1) For the year ending 31st December 2016, TSB Bank Plc reported a pre-tax profit of £182,300,000 and a total net worth of £1,879,200,000 (Source: Experian Group 08/06/2017).
(2) TSB Bank did not operate the 2016 tenant break option to determine the lease.
(3) For the year ending 31st December 2016, Cheltenham & Gloucester Plc reported a turnover of £83,567,000, pre-tax profits of £32,806,000 and a total net worth of £164,406,000 (Source: Experian Group 08/06/2017).