20 Regent Street Burnham on Sea Somerset TA8 1AB

  • 20 Regent Street<br>Burnham on Sea<br>Somerset<br>TA8 1AB

20 Regent Street
Burnham on Sea
Somerset
TA8 1AB

Prominent Freehold Bank and Office Investment

  • Ground and part first floor let to National Westminster Bank Ltd until 2025 (no breaks)
  • Part first and second floor let to James and Co Solicitors until 2025 (subject to option)
  • Includes 2 car parking spaces at the rear.
  • Medium term development potential (subject to consents)
  • 50 metres from Seafront & Esplanade
  • VAT-free Investment
  • Lot
    35
  • Auction
    16th June 2021
  • Rent
    £27,111 per Annum Exclusive
  • Status
    Sold
  • Price
    £319,000
  • Auction Venue
    Live Streamed Auction
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Prominent Freehold Bank and Office Investment

  • Ground and part first floor let to National Westminster Bank Ltd until 2025 (no breaks)
  • Part first and second floor let to James and Co Solicitors until 2025 (subject to option)
  • Includes 2 car parking spaces at the rear.
  • Medium term development potential (subject to consents)
  • 50 metres from Seafront & Esplanade
  • VAT-free Investment
  • Lot 35
  • Auction 16th June 2021
  • Rent £27,111 per Annum Exclusive
  • Status Sold
  • Price £319,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction

Property Information

Location
Miles
10 miles south of Weston-Super Mare
25 miles south-west of Bristol
Roads
B3139, A38 M5 (Junction 22)
Rail
Highbridge & Burnham
Air
Bristol Airport
Situation

Burnham on Sea is a popular tourist destination with its long sandy beaches, located 10 miles south of Weston Super Mare, 18 miles west of Wells and 12 miles from the Mendip Hills/Cheddar Gorge. The property is prominently situated on the corner of Regent Street and Victoria Street in the centre of Burnham-on-Sea. Neighbouring occupiers include Nationwide, Londis, Well pharmacy, Betfred and Lloyds bank along with a number of local traders, restaurants and pubs.

Tenure

Freehold.

Location
Miles
10 miles south of Weston-Super Mare
25 miles south-west of Bristol
Roads
B3139, A38 M5 (Junction 22)
Rail
Highbridge & Burnham
Air
Bristol Airport
Situation

Burnham on Sea is a popular tourist destination with its long sandy beaches, located 10 miles south of Weston Super Mare, 18 miles west of Wells and 12 miles from the Mendip Hills/Cheddar Gorge. The property is prominently situated on the corner of Regent Street and Victoria Street in the centre of Burnham-on-Sea. Neighbouring occupiers include Nationwide, Londis, Well pharmacy, Betfred and Lloyds bank along with a number of local traders, restaurants and pubs.

Tenure

Freehold.

Description

The property comprises a ground and part first floor former bank and part first and second floor office accommodation with two parking spaces at the rear. The property benefits from medium term redevelopment potential (subject to consents).

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 tenancies. Interested Parties are referred to www.sedgemoor.gov.uk

Completion Period

Six Week Completion

EPC

See legal pack.

Description

The property comprises a ground and part first floor former bank and part first and second floor office accommodation with two parking spaces at the rear. The property benefits from medium term redevelopment potential (subject to consents).

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 tenancies. Interested Parties are referred to www.sedgemoor.gov.uk

Completion Period

Six Week Completion

EPC

See legal pack.

Tenancy & Accommodation

Floor Use Floor Areas
(Approx)		 Tenant Term Rent p.a.x Reversion
Ground
Part first		 Banking Hall
Ancillary
165.40 sq m
40.30 sq m
(1,780 sq ft)
(433 sq ft) (2)
 NATIONAL
WESTMINSTER
BANK LTD (Not
in occupation)		 20 years from
08/06/2005		 £17,361.25 23/06/2025
Part First
and Second		 Offices
233.27 sq m
(2,511 sq ft)
 JAMES & CO
SOLICITORS		 4 years from
15/02/2021 (1)		 £9,750 31/05/2025
Total
438.97 sq m
(4,724 sq ft)
     £27,111.25  

(1) The lease provides for a tenant and landlord option to determine on 25/03/2023.
(2) The above floor areas have been provided partly by the Valuation Office Agency at www.voa.gov.uk and partly by the Seller.

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
OTB Eveling Senate Court, Southernhay Gardens
Exeter
EX1 1NT
Clare Wedderburn 01392 823811clare.wedderburn@otbeveling.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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