Prime Bank Investment
Prime Bank Investment
The property is situated in a prominent retail location on King Street at its junction with Market Walk. Nearby occupiers include Marks & Spencer, Boots, Caff?? Nero and HSBC
Virtual Freehold.
The property is situated in a prominent retail location on King Street at its junction with Market Walk. Nearby occupiers include Marks & Spencer, Boots, Caff?? Nero and HSBC
Virtual Freehold.
The property comprises a GROUND FLOOR BANKING HALL and OFFICE ACCOMMODATION with BASEMENT STORAGE. In addition there is SELF-CONTAINED ACCOMMODATION on first to third floors which is not currently used by the tenant and has office (B1) and leisure (D2) permitted use. The property benefits from a return frontage. Virtual Freehold. Held on two leases as follows: 999 years from 25th March 1898 until 2897 at a current rent reserved of ?50 per annum exclusive. 999 years from 29th September 1941 until 2940 at a current rent reserved of ?42.5s.9d. VATVAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
The property comprises a GROUND FLOOR BANKING HALL and OFFICE ACCOMMODATION with BASEMENT STORAGE. In addition there is SELF-CONTAINED ACCOMMODATION on first to third floors which is not currently used by the tenant and has office (B1) and leisure (D2) permitted use. The property benefits from a return frontage. Virtual Freehold. Held on two leases as follows: 999 years from 25th March 1898 until 2897 at a current rent reserved of ?50 per annum exclusive. 999 years from 29th September 1941 until 2940 at a current rent reserved of ?42.5s.9d. VATVAT is not applicable to this lot.
The EPC will be available to view online in the solicitor’s legal pack.
| Floor | Use | Floor Areas (Approx) | Tenant | Term | Rent p.a.x | Review | |
|---|---|---|---|---|---|---|---|
| Basement Ground First Second Third |
Storage Retail/Office Office/Leisure Office/Leisure Office/Leisure |
161.00 sq m |
(1,733 sq ft) (2,380 sq ft) (2,697 sq ft) (2,697 sq ft) (2,019 sq ft) |
SANTANDER UK PLC (1) | 10 years from 21/04/2010 until 31/12/2020 on a full repairing and insuring lease (2) | £140,000 |
21/04/2015 |
| Total Commercial Floor Area | 1,070.79 sq m |
(11,526 sq ft) |
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(1)?For the year ending 31st December 2008, Santander UK plc reported a turnover of ?9,244,000,000, pre-tax profits of ?1,094,000,000 and a total net worth of ?4,203,000,000. (Source: www.riskdisk.com). (2)?Please note the lease is subject to a rent free period of six months. The seller will pay the buyer a sum equivalent to the rent that would have been due in the absence of the rent free period.
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