Home > Auctions > 8 November 2022 08 November 2022 - 9:00am > Lot 52

8 November 2022: Tuesday 08 November 2022 - 9:00am
Return to catalogue   Previous lot Next lot 
Your Bid
Guide price TBA
Hammer price

Withdrawn

Withdrawn Prior

Sold

Sold Prior

Sold Post

Place a proxy bid on Lot #{{ lot.total_lot_number }}

Guide Price:

TBA
Bid now

Floorplan

Property details

Contact an agent

    • View Virtual Tour

      Play

    Remove from wishlist

    Add to wishlist

    Key features

    • A freehold retail banking investment
    • 8.6% Gross yield on Guide
    • Situated on a prominent street close to Broad Street Mall
    • Fully let to bank of Scotland Plc on a five year lease effective from 15th June 2022
    • Rent producing £195,000 per annum
    • By order of the LPA Receivers

    Description

    The premises comprise a brick constructed four storey Grade II listed period property. Internally the property accommodates a banking branch over the ground floor with meeting rooms and general offices located on the upper floors. The branch provides a large ground floor customer area with a number of cash machines to the front of the unit, along with various customer seating areas and a main banking counter to the rear. The ground floor was refurbished by the tenants in 2021.

    Additional information

    Tenure

    Freehold.

    Accommodation

    The first floor accommodates further office space and staff training rooms with the second floor providing additional office space along with a staff kitchen/restroom area.


    The third floor is currently used as storage space. Most of the areas have plastered and painted walls, cat II lighting and air conditioning units.


    Ground floor - 3,282 sq ft (304.98 sq m)

    First floor - 2,552 sq ft (237.1 sq m)

    Second floor - 780 sq ft (72.47 sq m)

    Third floor - 341 sq ft (31.75 sq m)

    Total NIA - 6,956 sq ft (646.3 sq m)

    Tenancy

    The property is let as a whole to Bank of Scotland Plc by way of a five year lease from 15 June 2022 due to expire on 14 June 2027 at a current rent of £195,000 per annum. The bank have been in continuous occupation of the property since 2007.

      • View Virtual Tour

        Play

      Contact

        Arrange a viewing

        Please arrive promptly for your viewing. To view properties you have booked a viewing for, visit the My Viewing section of your account.

        Please select a time from the options below

        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.

        Savills is a trading name of Savills plc. Savills is committed to ensuring that your privacy is protected. This privacy policy explains how we use the information we collect about you, how you can instruct us if you prefer to limit the use of that information and procedures that we have in place to safeguard your privacy

        Local information

        Broad Street is a pedestrianised street at the heart of Reading’s retail offering.

        The property is situated fronting onto the northern side of Broad Street close to its junction with West Street.

        Neighbouring occupiers include Foot Locker, Caffe Nero, Schuh, Waterstones and Barclays Bank.

        The popular Broad Street Mall is also close by at the junction of Oxford Road and St Mary’s Butts with occupiers including Poundland, Slaters, Metro Bank, Wilko, TK Maxx and Superdrug.

        The property is located at the heart of Reading town centre with access from junction 11 of the M4 motorway via the A329/A33.

        The M25 circular is approximately 25 miles to the east providing access to the wider motorway network and central London.

        Once completed, the Elizabeth Crossrail Line will provide Reading with greater connectivity to central London.

        Transport

        National Rail - Reading West (GWR)


        Legal documents

        Login to view legal documents

        EPC rating

        The EPC rating for this property is D

        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.

        Buying a property Common auction conditions Auction notices

        Addendums