67 Sandgate Road Folkestone Kent CT20 1RY

  • 67 Sandgate Road<br>Folkestone<br>Kent<br>CT20 1RY

67 Sandgate Road
Folkestone
Kent
CT20 1RY

Freehold Bank Investment

  • On behalf of Peter Welborn and Nigel Nattress - Joint LPA Receivers
  • Let to Barclays Bank plc on a new 20 year lease until 2026 (subject to option)
  • Nearby occupiers include Debenhams Department Store, W H Smith and Lloyds TSB Bank
  • Prominent High Street location
  • Lot
    36
  • Auction
    8th July 2010
  • Rent
    £70,500 per Annum
  • Status
    Sold
  • Price
    £1,310,000
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    Mayfair
    London W1K 2HP
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Freehold Bank Investment

  • On behalf of Peter Welborn and Nigel Nattress - Joint LPA Receivers
  • Let to Barclays Bank plc on a new 20 year lease until 2026 (subject to option)
  • Nearby occupiers include Debenhams Department Store, W H Smith and Lloyds TSB Bank
  • Prominent High Street location
  • Lot 36
  • Auction 8th July 2010
  • Rent £70,500 per Annum
  • Status Sold
  • Price £1,310,000
  • Sector
    Bank
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    Mayfair
    London W1K 2HP

Property Information

Location
Estimated District Population
56,000
Miles
11 miles west of Dover
16 miles east of Canterbury
58 miles south-east of Central London
Roads
M20
Rail
Folkestone International
Air
Gatwick
Situation

The property is prominently situated on the south side of Sandgate Road, the prime pedestrianised retail thoroughfare in the town. Nearby occupiers include Debenhams Department Store, W H Smith, Superdrug Health & Beauty and Lloyds TSB Bank.

Tenure

Freehold.

Location
Estimated District Population
56,000
Miles
11 miles west of Dover
16 miles east of Canterbury
58 miles south-east of Central London
Roads
M20
Rail
Folkestone International
Air
Gatwick
Situation

The property is prominently situated on the south side of Sandgate Road, the prime pedestrianised retail thoroughfare in the town. Nearby occupiers include Debenhams Department Store, W H Smith, Superdrug Health & Beauty and Lloyds TSB Bank.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors and a substantial basement with ancillary accommodation. NB This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability

VAT

VAT is not applicable to this lot.

Viewings

There will be only one viewing date, interested parties must register their details with the Auctioneers and provide identification on site. Please contact Harry Woolley.Tel: +44 (0)20 7034 4858.Email: harry.woolley@acuitus.co.uk

EPC

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

Description

The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors and a substantial basement with ancillary accommodation. NB This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability

VAT

VAT is not applicable to this lot.

Viewings

There will be only one viewing date, interested parties must register their details with the Auctioneers and provide identification on site. Please contact Harry Woolley.Tel: +44 (0)20 7034 4858.Email: harry.woolley@acuitus.co.uk

EPC

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

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Basement
Ground
First
Second 		Store
Banking Hall
Office
Office
70.88 sq m
122.45 sq m
121.70 sq m
90.58 sq m
(763 sq ft)
(1,318 sq ft)
(1,310 sq ft)
(975 sq ft)
 BARCLAYS BANK
PLC (1) 		20 years from 02/08/2006 until 2026 (2)(3) £70,500 29/09/2012
and 5 yearly
Totals  
405.61 sq m
(4,366 sq ft)
    £70,500  

(1)For the year ending 31st December 2009, Barclays Bank plc reported a turnover of 31,182,000,000, pre-tax profits of 4,559,000,000 and a net worth of 47,130,000,000. (Source: riskdisk.com 10/06/2010) (2)The lease provides for a tenant's option to determine the lease on the 15th anniversary of the term. (3)The lease is subject to a schedule of condition.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Needham & James LLP Solicitors 1 Colmore Row
Birmingham
B3 2BJ
Vicki Simpson +44 (0)845 620 9572vickisimpson@needhamandjames.com  Edward Postlethwaite 0121 214 1236edward.postlethwaite@shma.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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