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Lot 11 Click here for addendum

Freehold let to Bank of Scotland Plc until 2031 (no breaks) – Gross Yield 8%
6 week completion

Situation

Occupying a prominent position on the corner with Bispham Road, opposite Boots and Iceland and nearby other multiple retailers such as WHSmith, O2, Superdrug, Costa Coffee in the heart of the town centre.
Thornton-Cleveleys is a popular coastal town located approximately 4 miles north of Blackpool and approximately 3 miles south of Fleetwood.

Property

A large end of terrace building comprising a Ground Floor Bank with Ancillary Accommodation on first and second floors. The property includes an area for parking approx. 3 cars at the rear.

Accommodation¹

Ground Floor Bank
Area Approx. 2,270 sq ft
First Floor Ancillary
Area Approx. 1,420 sq ft
WCs
Second Floor Ancillary
Area Approx. 310 sq ft

Total Area Approx. 4,000 sq ft

¹Not inspected by Barnett Ross. Areas taken from VOA.

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Bank of Scotland Plc (t/a Halifax) (T/O for Y/E 31/12/2022 £8.88bn, Pre-Tax Profit £1.137bn and Shareholders' Funds £16bn) for a term of 15 years from 15th November 2016 (with no breaks) at a current rent of £80,000 per annum exclusive.

Rent Review 2026

Note: The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a Company which has had a Dunn & Bradstreet rating of 5A1 or better in the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group company of the original tenant. The landlord can require an AGA.

*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.

52 Victoria Road West, Thornton-Cleveleys, Lancashire FY5 1AG