Recently extended 5 year lease from 25/03/2023 (subject to option) (2)
Lease extended at the same rent
Includes car park at rear for up to 10 cars
Future potential residential development opportunity (subject to lease and consents)
Historic and prosperous market town
VAT free Investment
Nearby retailers include Waitrose, Sainsbury's, Prezzo, Domino's, Boots the Chemist, Superdrug and Clarks
Lot 5
Auction 30th March 2023
Rent £45,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
11 miles north-east of Bournemouth, 18 miles west of Southampton
Roads
A31, A338, M27, M271
Air
Bournemouth Airport
Situation
Ringwood is a historic market town located 11 miles northeast of Bournemouth on the periphery of the New Forest National Park. The property is located in a central location on High Street, at its junction with Kings Arms Lane. Nearby retailers include Waitrose, Sainsbury's, Prezzo, Domino's, Boots the Chemist, Superdrug and Clarks.
Tenure
Freehold.
Location
Miles
11 miles north-east of Bournemouth, 18 miles west of Southampton
Roads
A31, A338, M27, M271
Air
Bournemouth Airport
Situation
Ringwood is a historic market town located 11 miles northeast of Bournemouth on the periphery of the New Forest National Park. The property is located in a central location on High Street, at its junction with Kings Arms Lane. Nearby retailers include Waitrose, Sainsbury's, Prezzo, Domino's, Boots the Chemist, Superdrug and Clarks.
Tenure
Freehold.
Description
The property comprises a banking hall and ancillary accommodation arranged on the ground and first floors. The property also benefits from up to 10 car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a banking hall and ancillary accommodation arranged on the ground and first floors. The property also benefits from up to 10 car parking spaces to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground First (10 car parking spaces)
Banking Hall Offices/Ancillary
197.42 185.81
(2,125) (2,000)
LLOYDS BANK PLC (t/a Lloyds Bank) (1)
5 years from 23/03/2023 (2) on a full repairing and insuring lease
£45,000 (3)
Total
383.23
(4,125)
(1) For the year ending 31st December 2021, Lloyds Bank plc reported a turnover of £17,499,000,000, a pre-tax profit of £5,785,000,000 and a net worth of £36,064,000,000 (www.northrow.com). (2) The lease is subject to a tenant only option to determine on 25/03/2026. (3) The tenant will benefit from a three month rent free period from the commencement of the extended lease on 25/03/2023. The vendor will pay to the buyer the rent that would have been due from completion of the sale to 25/06/2023.
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.
