Bank let to Barclays Bank Plc until 2026 (no breaks)
Café let to Welland Retail Limited until 2025 (Subject to option)
Located in the heart of the Town Centre
Close to Weavers Wharf Shopping Centre with occupiers including JD Sports, Marks and Spencer, Holland & Barrett, Boots, Sports direct and TK Maxx
Lot 25
Auction 16th June 2021
Rent £55,000 per Annum Exclusive
Status Sold
Price £566,000
Sector Bank
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
14 miles north of Worcester, 7 miles south of
Wolverhampton, 19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Railway Station
Air
Birmingham International Airport
Situation
The property is located on a prominent corner position at the junction of Exchange Street and Oxford Street, opposite the town hall in the heart of Kidderminster Town Centre. The modern Weavers Wharf Shopping Centre is situated some 150 west which includes occupiers such as JD Sports, Marks and Spencer, Holland & Barrett, Boots, Sports direct and TK Maxx.
Tenure
Freehold.
Location
Miles
14 miles north of Worcester, 7 miles south of
Wolverhampton, 19 miles south-west of Birmingham
Roads
A448, A456, M5, M42
Rail
Kidderminster Railway Station
Air
Birmingham International Airport
Situation
The property is located on a prominent corner position at the junction of Exchange Street and Oxford Street, opposite the town hall in the heart of Kidderminster Town Centre. The modern Weavers Wharf Shopping Centre is situated some 150 west which includes occupiers such as JD Sports, Marks and Spencer, Holland & Barrett, Boots, Sports direct and TK Maxx.
Tenure
Freehold.
Description
The property comprises a traditional bank building, comprising ground floor Banking hall, first, second and third floor ancillary accommodation. In addition there is a two storey building fronting Exchange Street comprising ground floor retail / café accommodation and first floor ancillary accommodation and may be suitable for alternative uses such as offices or residential conversion, subject to consents.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
See legal pack.
Description
The property comprises a traditional bank building, comprising ground floor Banking hall, first, second and third floor ancillary accommodation. In addition there is a two storey building fronting Exchange Street comprising ground floor retail / café accommodation and first floor ancillary accommodation and may be suitable for alternative uses such as offices or residential conversion, subject to consents.
(1) For the year ending 31st December 2019, Barclays Bank Plc reported a turnover of £20,321,000,000, a pre-tax profit of £3,112,000,000 and shareholder funds of £50,615,000,000 (Source: NorthRow 18/05/2021). (2) As to the 1 Exchange Street, the lease provides for a tenant option to determine the lease on 12/02/2022. The tenant has verbally indicated that they would like to assign the lease, but no formal application has been made. (3) The floor areas stated above have been taken from the Valuation Office Agency website. www.voa.gov.uk (4) As to the lease to Barclays Bank plc the Seller has served an interim schedule of dilapidations, a copy of which is available in he Legal Pack.
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.
