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.
