September 2020: Thursday 24 September 2020 - 9:00am
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    Key features

    • Same ownership for 20 years
    • A rarely available prominent building opposite Earl’s Court underground station
    • Let to Lloyds Bank Plc at £156,000 per annum expiring 2027
    • Potential for a rooftop residential development and possibility for hoarding sign on Earl’s Court Road, subject to planning consents

    Description

    A prominent building opposite Earl’s Court underground station

    The property comprises a banking premises arranged on basement, ground, first and part second floors, together with self-contained residential on part second and third floors

    Potential for rooftop residential development subject to requisite consents

    Possibility for hoarding sign facing the oncoming one way traffic on Earl’s Court Road subject to planning 

    Possibility of conversion of upper parts to two flats subject to change of use and tenant vacation of this element

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor - Banking Hall -1,869 (sq ft)

    Basement - Stock/storing Room - 440 (sq ft)

    First Floor - Office - 933 (sq ft)

    Second Floor (part) - Office/staff 620 (sq ft)

    Second (part) and Third Floors - Residential - Sold on long leases

    Tenancy

    The Bank (arranged on basement, ground, first and part second floors) is let for a term of 10 years from 24 June 2012 at a rent of £156,000 per annum. On expiry from 23 June 2022 an additional 5 year lease has been agreed £160,000 per annum.


    The residential accommodation is part second and third floors is let for term of 125 years from 29th September 1998 at a ground rent of £400 per annum


    Total Current Rent £156,400 per annum

    Rent

    Total Current Rent £156,400 per annum

    Notes

    Lloyds Banking Group are the largest UK retail and commercial financial services provider with around 26 million customers and a presence in nearly every community.

    The Group’s main business activities are retail and commercial banking, general insurance and long-term savings, provided through well recognised brands including Lloyds Bank, Halifax, Bank of Scotland and Scottish Widows. Lloyds shares are quoted on the London and New York stock exchanges and we are one of the largest companies in the FTSE 100 index.

    For the year ended 31st December 2019, Lloyds Banking Group plc reported a statutory profit after tax of £3bn and shareholder’s equity of £42bn. (Source, Lloyds Banking Group Annual Report and Accounts 2019).

    Website Address: www.lloydsbank.com

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      Local information

      Earl's Court is a district in the Royal Borough of Kensington and Chelsea in West London located about 4 miles from

      central London between Kensington and Fulham/Chelsea.  

      The Property is situated in a prominent location at the junction of Earls Court Road and Hogarth Road, diagonally opposite the London Underground station 

      This area is world renowned for its Exhibition and Olympia Centres, attracting many people throughout the year to the various functions and concerts.

      The property neighbours KFC, Nandos, GBK and the Co-Operative

      Transport

      Earls Court (Underground, District and Piccadilly Line)

      West Brompton (Overground & National Rail)

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      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.

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