Santander, 43-44 High Street Stockton on Tees TS18 1SB

Santander,
43-44 High Street
Stockton on Tees
TS18 1SB

Freehold Bank Investment

Let to Santander UK Plc on a Renewed 5 year lease (subject to option)
Rebased rent
Santander formerly (Abbey National plc) has occupied the property for 29 years. (3)
Prominent trading position opposite the Town Hall
Neighbouring occupiers include Yorkshire Bank, Nationwide Building Society, Yorkshire Building Society and Barclays Bank

Lot
26
Auction
21st July 2021
Rent
£21,500 per Annum Exclusive
Status
Sold
Price
£230,000
Auction Venue
Live Streamed Auction
On Behalf of Receivers Savills

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Freehold Bank Investment

Let to Santander UK Plc on a Renewed 5 year lease (subject to option)
Rebased rent
Santander formerly (Abbey National plc) has occupied the property for 29 years. (3)
Prominent trading position opposite the Town Hall
Neighbouring occupiers include Yorkshire Bank, Nationwide Building Society, Yorkshire Building Society and Barclays Bank

Lot 26
Auction 21st July 2021
Rent £21,500 per Annum Exclusive
Status Sold
Price £230,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction
On Behalf of Receivers Savills

Property Information

Location

Miles: 4 miles south west of Middlesbrough; 10 Miles north east of Darlington; 18 miles south east of Durham; 25 mile east of Barnard Castle
Roads: A66, A19, A1(M)
Rail: Stockton Railway Station
Air: Tesside International Airport,; Newcastle International Airport

Situation

The property is situated in a prominent trading position on the east side of the busy High Street directly opposite the Town Hall and with neighbouring occupiers including Yorkshire Bank, Nationwide Building Society, Yorkshire Building Society, Costa and Barclays Bank.

Tenure

Freehold.

Location

Miles: 4 miles south west of Middlesbrough; 10 Miles north east of Darlington; 18 miles south east of Durham; 25 mile east of Barnard Castle
Roads: A66, A19, A1(M)
Rail: Stockton Railway Station
Air: Tesside International Airport,; Newcastle International Airport

Situation

Tenure

Freehold.

Description

The property is an attractive mid terrace building comprising retail banking accommodation on the ground floor and ancillary accommodation on mezzanine, the first and the second floors.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charged 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 Fixed Charged Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charged Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

See Legal Pack

Description

The property is an attractive mid terrace building comprising retail banking accommodation on the ground floor and ancillary accommodation on mezzanine, the first and the second floors.

VAT

VAT is not applicable to this lot.

Note

Completion Period

Six Week Completion

EPC

See Legal Pack

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground Mezzanine First Second	Banking Hall / Retail Ancillary Ancillary Ancillary	232.90 sq m 46.00 sq m 178.30 sq m 74.80 sq m	(2,507 sq ft) (495 sq ft) (1,919sq ft) (805 sq ft)	SANTANDER UK PLC (1)	5 Years from July 2021 on a full repairing and insuring lease (3)	£21,500 (2)	07/2026
Total		532.00 sq m	(5,726 sq ft) (4)			£21,500

(1) For the year ending 31st December 2019, Santander UK PLC reported a turnover of £7,224,000,000, a pre-tax profit of £1,012,000,000 and shareholders funds of £15,857,000,000 (Source: NorthRow 19/01/2021)
(2) The current rent has been re based from the previously rent reserved of £35,000 per annum exclusive.
(3) The property has been occupied by the tenant and formerly Abbey National plc for at least 29 years. In 2004, Abbey National plc was acquired by Banco Santander Central Hispano, SA and branches of Abbey National were rebranded as Santander in 2010. (www.santander.co.uk/about-santander/our-history). Santander UK PLC are currently holding over om a lease for a term until 31st December 2020. Heads of Terms have been agreed for a new lease on the terms stated above. The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954. The lease provides for a mutual option to determine the lease at year 3 of the term with 6 months written notice.
(4) The floor areas stated above are those published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/16472522000

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.