4 Corn Street Leominster Herefordshire HR6 8LX

4 Corn Street
Leominster
Herefordshire
HR6 8LX

Newly Opened Freehold Bank Investment

Barclays Bank opened in May 2018 following substantial fit out
New 10 year lease from November 2017 (subject to option)
Tenant relocated to subject property having traded in previous Leominster town centre branch for numerous years
Prime trading location

Lot
2
Auction
11th July 2018
Rent
£16,000 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Newly Opened Freehold Bank Investment

Barclays Bank opened in May 2018 following substantial fit out
New 10 year lease from November 2017 (subject to option)
Tenant relocated to subject property having traded in previous Leominster town centre branch for numerous years
Prime trading location

Lot 2
Auction 11th July 2018
Rent £16,000 per Annum Exclusive
Status Sold Post
Price
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 11 miles south of Ludlow, 12 miles north of Hereford, 25 miles west of Worcester
Roads: A44, A49, A456, M5 (Junction 7)
Rail: Leominster Railway Station
Air: Birmingham International Airport

Situation

The property is located in the historic market town of Leominster and is prominently situated on the southern side of Corn Street, which connects to Corn Square and High Street. Nearby occupiers include WHSmith, Boots the Chemist, Holland & Barrett, Coffee #1, Specsavers, Shoe Zone, Savers, Hallmark Cards and Scrivens, with branches of Santander and Lloyds banks also located within the town. Corn Square provides public car parking for over 20 cars.

Tenure

Freehold.

Location

Miles: 11 miles south of Ludlow, 12 miles north of Hereford, 25 miles west of Worcester
Roads: A44, A49, A456, M5 (Junction 7)
Rail: Leominster Railway Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises a newly refurbished bank, with a ground floor banking hall and ancillary accommodation on the basement and first floors.

VAT

VAT is applicable to this lot.

Completion Period

Six

EPC

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

Description

The property comprises a newly refurbished bank, with a ground floor banking hall and ancillary accommodation on the basement and first floors.

VAT

VAT is applicable to this lot.

Completion Period

Six

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
Ground Basement First	Banking Hall/Ancillary Ancillary Ancillary	95.12 sq m 7.10 sq m 41.10 sq m	(1,024 sq ft) (74 sq ft) (442 sq ft)	BARCLAYS BANK UK PLC (1)	10 years from 28/11/2017 until 27/11/2027 (2) on a full repairing and insuring lease	£16,000	28/11/2022
Total		143.32 sq m	(1,540 sq ft)			£16,000

(1) For the year ending 31st December 2017, Barclays Bank UK Plc reported pre-tax profits of £14,060,000 and a total net worth of £159,269,000 (Source: Experian Group 21/05/2018).
(2) The lease provides for a tenant option to determine on 27/11/2022.