Freehold Bank & Residential Ground Rent Investment
Bank let to National Westminster Bank Plc until June 2025
Includes 4 flats let on long leases
Nearby occupiers include Marks & Spencer Food Hall, Post Office and a number of local traders.
VAT-free Investment
Popular South London Suburb
Lot 8
Auction 3rd November 2022
Rent £38,400 per Annum Exclusive
Status Sold Post
Price
Sector Bank
Auction Venue Live Streamed Auction
Property Information
Location
Miles
7 miles south east of Central London
Roads
A102, A2, B210, B211
Rail
Westcombe Park Station, Blackheath Station
Air
London City Airport
Situation
Blackheath is an attractive, popular and busy London suburb located 7 miles south east of Central London. The property is situated fronting Old Dover Road on Stratheden Parade, a small retail parade. Nearby retailers include Marks & Spencer Food Hall, Post Office and a number of local traders.
Tenure
Freehold.
Location
Miles
7 miles south east of Central London
Roads
A102, A2, B210, B211
Rail
Westcombe Park Station, Blackheath Station
Air
London City Airport
Situation
Blackheath is an attractive, popular and busy London suburb located 7 miles south east of Central London. The property is situated fronting Old Dover Road on Stratheden Parade, a small retail parade. Nearby retailers include Marks & Spencer Food Hall, Post Office and a number of local traders.
Tenure
Freehold.
Description
The property comprises a banking hall arranged on the ground floor only, forming part of a larger branch. The property also comprises four self contained flats arranged on the first & second floors, all let on long leases.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
6 week completion
EPC
See legal pack.
Description
The property comprises a banking hall arranged on the ground floor only, forming part of a larger branch. The property also comprises four self contained flats arranged on the first & second floors, all let on long leases.
VAT
VAT is not applicable to this lot.
Note
Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.
Completion Period
6 week completion
EPC
See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground
Banking Hall/Ancillary
261.98
(2,820)
NATIONAL WESTMINSTER BANK PLC (1)
20 years from 10/06/2005
£38,000
Flat 14A (First)
Residential
-
(-)
INDIVIDUAL
125 years from 26/08/2003
£100
Flat 15A (First)
Residential
-
(-)
INDIVIDUAL
125 years from 26/08/2003
£100
Flat 14B (Second)
Residential
-
(-)
A COMPANY
125 years from 26/08/2003
£100
Flat 15B (Second)
Residential
-
(-)
A COMPANY
125 years from 26/08/2003
£100
Total Commercial Area
261.98
(2,820)
£38,400
(1) For the year ending 31st December 2021, National Westminster Bank Plc reported a turnover of £12,785,000,000, a pre-tax profit of £4,032,000,000 and shareholder funds of £41,796,000,000 (Source: www.northrow.com). Please note that the tenant is not currently in occupation.
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.
