114 High Street Kirkcaldy Fife KY1 1NQ

114 High Street
Kirkcaldy
Fife
KY1 1NQ

High Yielding Heritable Bank Investment

Prominent Town Centre location adjacent to the Mercat Shopping Centre on Busy High Street
Entire building occupied by TSB Bank PLC since 1998
Lease recently extended by 5 years 2027 (No Breaks) at a Re-Based Rent of £55,000 p.a.x.
Banking Hall Refurbished by TSB in 2021
Nearby Occupiers Include Superdrug, JD Sport, Boots, The Works and Costa. Occupiers in the neighbouring Mercat Centre include TK Maxx and Home Bargains

Lot
33
Auction
18th May 2022
Rent
£55,000 per Annum Exclusive
Status
Sold
Price
£470,000
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

High Yielding Heritable Bank Investment

Prominent Town Centre location adjacent to the Mercat Shopping Centre on Busy High Street
Entire building occupied by TSB Bank PLC since 1998
Lease recently extended by 5 years 2027 (No Breaks) at a Re-Based Rent of £55,000 p.a.x.
Banking Hall Refurbished by TSB in 2021
Nearby Occupiers Include Superdrug, JD Sport, Boots, The Works and Costa. Occupiers in the neighbouring Mercat Centre include TK Maxx and Home Bargains

Lot 33
Auction 18th May 2022
Rent £55,000 per Annum Exclusive
Status Sold
Price £470,000
Sector
Bank
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 18 miles north-east of the Forth Road Bridge, 28 miles north of Edinburgh, 24 miles south west of St Andrews
Roads: A92
Rail: Kirkcaldy Railway Station (ScotRail)
Air: Edinburgh Airport

Situation

The property is situated in a prime retailing location on the south side of the High Street, in the heart of Kirkcaldy town centre. The property is located adjacent to The Mercat Shopping Centre. Car parking is provided by The Esplanade (approx. 502 spaces) . Neighbouring occupiers on the High Street include Superdrug, JD Sport, Boots, Costa Coffee, The Works and Vision Express.

Tenure

Heritable. Scottish Equivalent of English Freehold

Location

Miles: 18 miles north-east of the Forth Road Bridge, 28 miles north of Edinburgh, 24 miles south west of St Andrews
Roads: A92
Rail: Kirkcaldy Railway Station (ScotRail)
Air: Edinburgh Airport

Situation

Tenure

Heritable. Scottish Equivalent of English Freehold

Description

The property comprises a traditional sandstone building with a banking hall at ground floor and offices at first floor, together with ancillary/staff accommodation at second floor level. The banking hall was refurbished by TSB in 2021.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Reversion
Ground Floor Basement First Floor Second Floor	Banking Hall Storage Staff/ Storage Ancillary	336.41 sq m 20.04 sq m 119.81 sq m 99.74 sq m	(3,621 sq ft) (216 sq ft) (1,290 sq ft) (1,074 sq ft)	TSB BANK PLC (1)	29 years from 18 November 1998 to 24 March 2027 on a Full Repairing and Insuring Lease	£55,000	24/03/2027
Total		575.99 sq m	(6,201 sq ft)			£55,000

(1) TSB is part of the Spanish banking group Sabadell that offers full service banking to more than five million customers (Source: www.tsb.co.uk). For the year ending 31/12/2020 TSB Bank Plc reported a turnover of £1,064,000,000, pre-tax profits of £-156,200,000 and total shareholders equity of £1,724,900,000 (Source: NorthRow 12/12/2021).

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.