Barclays Bank, 144-148 Regent House, York Road Hartlepool County Durham TS26 9DU

Barclays Bank, 144-148 Regent House, York Road
Hartlepool
County Durham
TS26 9DU

Freehold Mixed-Use Investment Opportunity

Comprises a Banking Hall / Retail, a Café, an Office and a Dance School Studio
Tenants include Barclays Bank PLC, KLSD Community Ventures CIC (t/a The Dancing Cup home of Tastebuds Kitchen) and KLSD CIC (t/a Karen Liddle School of Dance)
200m from Middleton Grange Shopping Centre
Nearby Occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel

Lot
32
Auction
7th November 2024
Rent
£67,495 per Annum Exclusive
rising to £68,551 per Annum Exclusive (4)
Status
Available
Guide*
Contact Us
Auction Venue
Live Streamed Auction

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Freehold Mixed-Use Investment Opportunity

Comprises a Banking Hall / Retail, a Café, an Office and a Dance School Studio
Tenants include Barclays Bank PLC, KLSD Community Ventures CIC (t/a The Dancing Cup home of Tastebuds Kitchen) and KLSD CIC (t/a Karen Liddle School of Dance)
200m from Middleton Grange Shopping Centre
Nearby Occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel

Lot 32
Auction 7th November 2024
Rent £67,495 per Annum Exclusive rising to £68,551 per Annum Exclusive (4)
Status Available
Guide* Contact Us
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 17 miles south-east of Durham, 20 miles north-east of Darlington
Roads: A19, A179, A689
Rail: Hartlepool Railway Station
Air: Durham Airport

Situation

Hartlepool is a port town and administrative centre of County Durham, approximately 17 miles south-east of Durham and 20 miles north-east of Darlington. The property is situated on a prominent corner position at the junction of Park Road and York Road, 200m from the entrance to Middleton Grange Shopping Centre. Nearby occupiers include New Look, Primark, B&M, Domino's, Home Bargains, JD Gyms and H.Samuel.

Tenure

Freehold.

Location

Miles: 17 miles south-east of Durham, 20 miles north-east of Darlington
Roads: A19, A179, A689
Rail: Hartlepool Railway Station
Air: Durham Airport

Situation

Tenure

Freehold.

Description

The property comprises a substantial former banking hall on the basement, ground and part-first floor; a café on the ground floor and a dancing school studio on part first and the second floor.

The property benefits from car parking to the rear with approximately 8 spaces.

VAT

VAT is not 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 not 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

Address	Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Reversion
148 Regent House	Basement Ground First -part	Ancillary Former-Bank Office	56.78 196.29 144.46	(611) (2,113) (1,555)	BARCLAYS BANK PLC (CRN: 01026167)(1) (Not currently in occupation)	20 years from 27/04/2007	£39,000	26/04/2027
144-146 Regent House	Ground	Café	97.03	(1,044)	KLSD COMMUNITY VENTURES CIC (t/a The Dancing Cup home of Tastebuds Kitchen) (CRN: 12586707)	6 years from 24/06/2020	£17,000 (2)	23/06/2026
144-148 Regent House	First (part) and Second	Leisure	333.55	(3,589)	KLSD CIC (CRN: 09724209 (t/a Karen Liddle School of Dance)) with personal guarantees(3)	15 years from 18/09/2018 with tenant option to extend (4)	£11,495 rising to £12,551 (4)	17/09/2033
Total Approximate Floor Area			897.91	(9,663)			£67,495 rising to £68,551 (2)(4)

(1) For the year ending 31/12/2023 Barclays Bank Plc reported a Turnover of £39,123,000,000 a Pre-Tax Profit of £4,223,000,000 and a Net Worth of £59,420,000,000 (NorthRow 19/06/2023)
(2) Due to re-negotiations after the pandemic, the tenant is currently paying £11,400 per annum exclusive. However, this has not been formally documented.
(3) Established in 1987, Karen Liddle School of Dance is an inclusive, not for profit, community oriented dance school in Hartlepool (www.klsd.co.uk)
(4) As to the part first and second floors, the lease benefits from a stepped rent as follows: £11,495 per annum exclusive from 18/09/2022 to 17/09/2027, £12,069 per annum exclusive from 18/09/2027 to 17/09/2032 and £12,551 per annum exclusive from 18/09/2032 to 17/09/2033. The lease also provides for a tenant option to extend the lease for a term of 99 years, subject to agreeing lease terms.

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.