Entirely let to Bank of Scotland Plc until June 2032 (no breaks)
Favourable alienation provisions within the lease
Large site to rear with parking for about 8 cars
Prominent pedestrianised town centre location opposite Grays Shopping Centre and Boots the Chemist
VAT-free bank investment
Lot 26
Auction 12th February 2020
Rent £47,000 per Annum Exclusive
Status Sold Prior
Price
Sector Bank
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
Property Information
Location
Miles
9 miles north-east of Dartford
3 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation
Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.
Tenure
Freehold.
Location
Miles
9 miles north-east of Dartford
3 miles east of Central London
Roads
A13, M25
Rail
Grays Railway Station
Air
London City Airport, London Southend Airport
Situation
Grays is the largest town in Thurrock, located two miles from the Dartford Bridge/Tunnel. The property is situated in a prominent position on the west side of pedestrianised High Street and opposite the Grays Shopping Centre. Nearby occupiers include Boots the Chemist (opposite), Holland & Barrett, Sports Direct and a number of high street banks. Grays Railway Station is situated some 50 metres to the south.
Tenure
Freehold.
Description
The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.
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.
EPC
See legal pack at acuitis.co.uk
Description
The property comprises a double fronted bank (48-50 High Street) arranged on the ground and first floors, and a shop (46 High Street) arranged on the ground floor only. The property benefits from car parking at the rear for approximately 8 cars.
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.
EPC
See legal pack at acuitis.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
48-50
Ground First
Banking Hall/Offices Offices/Ancillary
261.20 sq m 174.40 sq m
(2,812 sq ft) (1,877 sq ft)
BANK OF SCOTLAND PLC (1) t/a Halifax
15 years from 27/06/2017 until 26/06/2032 on a full repairing and insuring lease
£47,000
26/06/2022 and 26/06/2027
46
Ground
Retail (sublet) (2)
53.40 sq m
(575 sq ft)
Total
489.00 sq m
(5,264 sq ft)
£47,000
1) For the year ending 31st December 2018, Bank of Scotland Plc reported profit before tax of £2,231,000,000 and total assets of £343,926,000,000 (Source: Companies House 20/01/2020). Bank of Scotland is part of Lloyds Banking Group, the UK's leading financial services company that serves around 27 million customers. The group also has some of the most well known brands on the high street, including Lloyds Bank, Halifax and Scottish Widows (Source: www.lloydsbankinggroup.com 16/01/2020). (2) 46 High Street has been sublet to Dr Han Chinese Medicine.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
Contacts
Seller's Solicitors
Ringley Law LLP Ringley House 1 Castle Road London NW1 8PR
