24 November 2022: Thursday 24 November 2022 - 9:00am
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    Key features

    • Investment let at £13,875 pa (12.61% on Guide Price)
    • Ground floor let to Barclays Bank Plc
    • Let on a 20 year lease from March 2007 (expiring March 2027)
    • High Yielding on Guide Price
    • VAT-Free Investment

    Description

    The property comprises an end of terrace ground floor banking hall and basement. The first floor has been sold off on a long lease.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the vendor and the property has not been inspected by Savills.


    Ground (Retail/Ancillary) - 220.70 sq m (2,376 sq ft)

    Basement (Ancillary) - 49.40 sq m (532 sq ft)


    Total commercial area - 270.10 sq m (2,908 sq ft)


    Tenancy

    Ground - Let to Barclays Bank Plc for a term of 20 years from 06.03.2007 until 05.03.2027 at a rent of £13,875 pa. Next rent review June 2024. The lease is subject to a break option in March 2023 subject to 6 months notice (this period has now passed so the tenant will not break in 2023).

    First - Let on a 999 year lease at a peppercorn.


    Total - £13,875 pa

    Rent

    £13,875 per annum
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Pwllheli is a popular coastal market town on the coast of north wales, within Cardigan Bay, approximately 6 miles north-east of Abersoch. The property is located in a prominent position on the south side of High Street, with nearby occupiers including a number of independent shops, cafes and restaurants.

      Transport

      Roads: A487, A5, A494

      Rail: Pwllheli

      Legal documents

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      EPC rating

      The EPC rating for this property is C

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums