Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment opportunity let to Santander, one of the UKs largest banks and occupying a prime pedestrianised pitch.
Arranged across ground and three upper floors, the property is let in its entirety to Santander UK Plc on a six year lease expiring 31/12/2027 and producing £62,500 per annum.
The property has evident asset management potential via renewal/regearing of the existing lease. Alternatively there may be potential to obtain vacant possession of the upper parts and convert to alternative uses, including residential (subject to the existing lease and any requisite consents).
The property occupies a prime pitch fronting the pedestrianised High Street, nearby occupiers include Robert Dyas, McDonalds and Spar.
Tenure
Freehold
Tenancy
The property is let in its entirety to Santander UK Plc on a six year lease expiring 31/12/2027 and producing £62,500 per annum.
The lease is on full repairing and insuring terms and is within the Security of Tenure provisions of the Landlord and Tenant 1954 Act. The lease includes a tenants break option 31/12/2025 with six months notice.
Santander UK Plc
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).