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Lot 12 Click here for addendum

Gross Yield 10%
6 Week Completion

Situation

Located on the east side of Lower High Street close to the junction with Market Place and amongst such multiples as HSBC, Post Office, Co-operative Funeralcare and Connells. Wednesbury is a market town located approx. 5 miles south-east of Wolverhampton and 7 miles north-west of Birmingham benefitting from excellent road access via the M6 (Junction 9).

Property

A mid-terrace building comprising a Ground Floor Banking Hall with Basement and Ancillary Accommodation on the first and second floors.

Accommodation

Ground Floor Banking Hall
Gross Frontage 28'1"
Internal Width 22'10" (max)
Bank Depth 68'2"
Built Depth 81'0"
Banking Hall Area Approx. 1,165 sq ft
Basement Area Approx. 385 sq ft
First Floor Area Approx. 765 sq ft plus WC's
Second Floor Area Approx. 435 sq ft
Total Area Approx. 2,750 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a schedule of condition) to Barclays Bank PLC (T/O for Y/E 31/12/17 £26.7bn, Pre-Tax Profit £3.16bn and Shareholders' Funds £65.7bn) for a term of 20 years from 21st May 2008 at a current rent of £17,500 per annum exclusive.
Rent Reviews 2022 and 2027. Tenant's Break 2023

Note: Barclays will be closing this branch on 29th March 2019.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

41 Lower High Street, Wednesbury, West Midlands WS10 7AJ