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Lot 1

Freehold Commercial Investment let to Barclays Bank plc – Gross Yield 17.1%
6 Week Completion

Situation

Occupying a prime position in the town's main pedestrianised retail thoroughfare, located opposite the entrance to the Nicholsons Shopping Centre and amongst multiples such as Hays Travel, Costa, Specsavers, McDonald's, CEX, Savers, Three, Scrivens and many more.
Maidenhead is a prosperous Thames Valley town which lies approximately 26 miles west of central London and enjoys easy access via the A404(M) to the M4 (Junctions 8/9) and M40 (Junction 4) motorways.

Property

A modern well-configured mid-terrace building comprising a Ground Floor Bank with a Basement and internal access to Ancillary Accommodation on first and second floors. The property includes an 8-person passenger lift.

Accommodation

Ground Floor Banking Hall
Gross Frontage 28'6"
Internal Width 25'6"
Built Depth 82'4"
Area Approx. 1,716 sq ft
First Floor
Offices
Area Approx. 1,567 sq ft
Second Floor
Canteen/Offices
Area Approx. 559 sq ft
Plus 3 Gents WCs &
5 Ladies WCs
Basement
Strong Room & Storage
Area Approx. 841 sq ft
________________
Total Area Approx. 4,683 sq ft

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: There may be potential to convert the upper parts for residential use, subject to obtaining possession and the necessary consents.

Note 2: There has been recent negotiations with Barclays Bank who have made a monetary offer to surrender their lease with vacant possession - refer to the Auctioneers for more information.

Click here to view the floor plans.

VIDEO TOUR

Click here to view the video tour of the Ground and First Floors.

Click here to view the video tour of the Second Floor.

Click here to view the video tour of the Basement.

Tenancy

The entire property is let on a full repairing and insuring lease (subject to a Schedule of Condition) to Barclays Bank plc (not in occupation) (T/O for Y/E 31/12/2023 £39bn, Pre-Tax Profit £4.2bn and Shareholders' Funds £60.5bn) for a term of 20 years from 14th August 2006 at a current rent of £120,000 per annum exclusive.

*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.

92 High Street, Maidenhead, Berkshire SL6 1PX