The property comprises a modern detached bank arranged over ground and first floor of a cavity blockwork and brick construction under a pitched roof incorporating a powder coated aluminium framed retail frontage and windows, together with a tarmacadam surfaced car park to the rear with perimeter wall and wrought iron railings.
Internally, the accommodation is configured to provide the main Banking Hall together with administrative offices whilst at first floor there is a kitchen/break out area, store, cleaners cupboard, boiler room and male/female WCs.
Location
The property occupies a prominent corner site fronting Carlton Hill (B606) to the south, at its junction with Frederick Avenue. Nearby occupiers include Tesco,
Iceland, BetFred, Dominos, Carphone Warehouse and Ladbrokes.
Accommodation
Measured in accordance with the RICS Code of Measuring Practice (6th Edition), we calculate the property provides the following net internal areas:
Ground Floor - 1,426 sq ft (132.453 sq m)
First Floor - 384 sq ft (35.651 sq m)
Total - 1,810 sq ft (168.104 sq m)
Terms
Tenure
The property is freehold.
Rateable Value
We have been advised that the Rateable Value for the property is as follows:
Rateable Value £25,500
Rates Payable 2014/2015 £12,291
Tenancy
Let to Lloyds TSB Bank plc until 24 December 2020 on a full repairing and insuring basis, at a rental of £26,000 per annum and subject to rent review and tenant break 25 December 2015.
Price
Offers are invited in the region of £367,000, reflecting a net initial yield of 6.75%, subject to contract and exclusive of VAT assuming standard purchasers costs
at 4.8%.
Specification
- Busy high street location
- 5A1 covenant
- Let to Lloyds TSB Bank plc until 24 December 2020 at a rental of £26,000 per annum and subject to rent review and tenant break 25 December 2015
- Modern construction with self contained car park