Adjacent entrance to Freshney Place Shopping Centre
Let to Barclays Bank PLC on a lease expiring 2026 (NO BREAKS)
Break option 2021 NOT exercised
Future alternative use potential of the upper floors
VAT-free Investment
Lot 12
Auction 25th March 2021
Rent £95,000 per Annum Exclusive
Status Sold
Price £800,000
Sector Bank
Auction Venue Live Streamed Auction
On Instructions of Receivers
Property Information
Location
Miles
33 miles south-east of Kingston upon Hull,
35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Railway Station
Air
Humberside Airport
Situation
The property is located in a prominent town centre location on the prime pedestrianised shopping street in Grimsby, opposite The Freshney Place Shopping Centre. Retailers in the Centre include Starbucks, Greggs, Superdrug, Vision Express & Poundland. Neighbouring occupiers on Victoria Street include McDonald's (Opposite) Greggs, Lloyds Bank, NatWest, Santander, M&S, Specsavers and Nationwide.
Tenure
Freehold.
Location
Miles
33 miles south-east of Kingston upon Hull,
35 miles north-east of Lincoln
Roads
A16, A180, M180
Rail
Grimsby Railway Station
Air
Humberside Airport
Situation
The property is located in a prominent town centre location on the prime pedestrianised shopping street in Grimsby, opposite The Freshney Place Shopping Centre. Retailers in the Centre include Starbucks, Greggs, Superdrug, Vision Express & Poundland. Neighbouring occupiers on Victoria Street include McDonald's (Opposite) Greggs, Lloyds Bank, NatWest, Santander, M&S, Specsavers and Nationwide.
Tenure
Freehold.
Description
This Grade II Listed property comprises a ground floor banking hall with ancillary/staff accommodation at first and second floors. The property benefits from two main entrances, Victoria Street & Brewery Street.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to North East Lincolnshire Council - www.nelincs.gov.uk
Note
This property is being marketed for sale by the Company acting by the Joint LPA Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint LPA Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint LPA Receivers are not bound to accept the highest or any offer and are acting as agents of the Company in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band D. See Legal Pack at www.acuitus.co.uk
Description
This Grade II Listed property comprises a ground floor banking hall with ancillary/staff accommodation at first and second floors. The property benefits from two main entrances, Victoria Street & Brewery Street.
VAT
VAT is not applicable to this lot.
Planning
The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to North East Lincolnshire Council - www.nelincs.gov.uk
Note
This property is being marketed for sale by the Company acting by the Joint LPA Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint LPA Receivers to the best of their knowledge, but the purchaser must rely solely upon their own enquiries. The Joint LPA Receivers are not bound to accept the highest or any offer and are acting as agents of the Company in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
Band D. See Legal Pack at www.acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Rent Review (Reversion)
Ground First Second
Retail Ancillary Ancillary
311.00 sq m 233.46 sq m 222.60 sq m
(3,348 sq ft) (2,513 sq ft) (2,396 sq ft)
BARCLAYS BANK PLC (1)
20 years from 15/05/2006 on a full repairing & insuring lease subject to a schedule of condition
£95,000
01/01/2025 (14/05/2026)
Total
767.06 sq m
(8,257 sq ft)
£95,000
(1) For the year ended 31st December 2019 Barclays UK PLC did not report a turnover but reported a pre-tax profit of £669,000,000, shareholders funds of £16,513,000,000 and a net worth of £12,983,000,000 (Source: Experian 07.01.2021)
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.
