Let to Santander UK Plc on a recently renewed 10 year lease from 29th September 2018 (no breaks)
No concessions offered to tenant at renewal
Prominent town centre location
Popular Essex commuter town
Nearby occupiers including Costa Coffee, Boots, Greggs, Holland & Barrett, Pizza Express, Prezzo and ASK Italian
Lot 13
Auction 14th February 2019
Rent £65,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles north-west of Southend-on-Sea
13 miles south of Chelmsford
32 miles east of Central London
Roads
A13, A127, A130
Rail
Rayleigh Train Station (direct services to London Liverpool Street)
Air
London Southend Airport
London City Airport
London Stansted Airport
Situation
Rayleigh is a market town in the district of Rochford, Essex, located some 6 miles north-west of Southend-on-Sea, 13 miles south of Chelmsford and 32 miles east of Central London, with direct rail services to London Liverpool Street. The property is situated in a prominent town centre location in a good trading position on High Street. Nearby occupiers include Costa Coffee, Boots, Greggs, Holland & Barrett, Pizza Express, Prezzo and ASK Italian.
Tenure
Virtual Freehold. Virtual freehold for a term of 999 years from 29th September 2018 at a peppercorn rent.
Location
Miles
6 miles north-west of Southend-on-Sea
13 miles south of Chelmsford
32 miles east of Central London
Roads
A13, A127, A130
Rail
Rayleigh Train Station (direct services to London Liverpool Street)
Air
London Southend Airport
London City Airport
London Stansted Airport
Situation
Rayleigh is a market town in the district of Rochford, Essex, located some 6 miles north-west of Southend-on-Sea, 13 miles south of Chelmsford and 32 miles east of Central London, with direct rail services to London Liverpool Street. The property is situated in a prominent town centre location in a good trading position on High Street. Nearby occupiers include Costa Coffee, Boots, Greggs, Holland & Barrett, Pizza Express, Prezzo and ASK Italian.
Tenure
Virtual Freehold. Virtual freehold for a term of 999 years from 29th September 2018 at a peppercorn rent.
Description
The property is a double fronted two-storey building arranged over ground and first floors. It comprises a ground floor banking hall with ancillary accommodation on the first floor.
VAT
VAT is 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
The property is a double fronted two-storey building arranged over ground and first floors. It comprises a ground floor banking hall with ancillary accommodation on the first floor.
VAT
VAT is 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
Review (Reversion)
Ground First
Banking Hall Ancillary
217.30 sq m 79.80 sq m
(2,339 sq ft) (859 sq ft)
SANTANDER UK PLC (1)
10 years from 29/09/2018
£65,000
29/09/2023 (28/09/2028)
Total
297.10 sq m
(3,198 sq ft)
£65,000
(1) For the year ending 31st December 2017, Santander UK Plc reported a turnover of £1,222,000,000, pre-tax profits of £1,817,000,000 and a total net worth of £14,311,000,000 (Source: Experian Group 10/12/2018).
