Let to Barclays Bank Plc until 2026 (subject to option)
Prominent town centre location with central pitch on High Street
Residential conversion potential (subject to consents)
Nearby occupiers include Lloyds Bank, B&M, WHSmith, Superdrug, Domino’s Pizza and Boots
VAT-free investment
Lot 33
Auction 14th February 2019
Rent £33,500 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
7 miles south of Stoke-on-Trent, 7 miles north of Stafford, 30 miles north of Birmingham city centre
Roads
A520, A51, A34, M6
Rail
Stone Train Station
Air
Manchester Airport, Birmingham Airport
Situation
Stone is an attractive market town located midway between Stoke-on-Trent and Stafford, some 30 miles north of central Birmingham in the county of Staffordshire. The property is situated on the north side of the pedestrianised High Street in a prominent town centre location, with nearby occupiers including Lloyds Bank, B&M, WHSmith, Superdrug, Domino,s Pizza and Boots.
Tenure
Freehold.
Location
Miles
7 miles south of Stoke-on-Trent, 7 miles north of Stafford, 30 miles north of Birmingham city centre
Roads
A520, A51, A34, M6
Rail
Stone Train Station
Air
Manchester Airport, Birmingham Airport
Situation
Stone is an attractive market town located midway between Stoke-on-Trent and Stafford, some 30 miles north of central Birmingham in the county of Staffordshire. The property is situated on the north side of the pedestrianised High Street in a prominent town centre location, with nearby occupiers including Lloyds Bank, B&M, WHSmith, Superdrug, Domino,s Pizza and Boots.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with ancillary accommodation on the first floor. The property also benefits from an external store room and parking at the rear. The upper floors, external store and car park may lend themselves to future residential conversion, subject to the existing lease and all necessary consents.
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
The property comprises a ground floor banking hall with ancillary accommodation on the first floor. The property also benefits from an external store room and parking at the rear. The upper floors, external store and car park may lend themselves to future residential conversion, subject to the existing lease and all necessary consents.
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 First External Store
Banking Hall Ancillary Ancillary
194.54 sq m 56.39 sq m 17.65 sq m
(2,094 sq ft) (607 sq ft) (190 sq ft)
BARCLAYS BANK PLC (1)
20 years from 12/05/2006 on a full repairing and insuring lease (2)
£33,500
11/05/2026
Total
268.58 sq m
(2,891 sq ft)
£33,500
(1) For the year ending 31st December 2017, Barclays Bank Plc reported a turnover of £8,775,000,000, pre-tax profits of £3,166,000,000 and a total net worth of £60,829,000,000 (Source: Experian 17/12/2018). (2) The lease provides for a tenant option to determine on 11/05/2021.
