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Barclays Bank, 9 Highgate, Kendal, LA9 4DA

  • Auction
  • Lot 14
  • United Kingdom
  • Bank
  • Commercial

Guide Price £1,250,000

Bidder Security £19,000 *fully refundable if unsuccessful bidder
Auction Date 25 July
Bidding Opens 10:00 (GMT+1)
Bidding Closes 11:52 (GMT+1)

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Property Summary

  • Freehold Bank investment (undergone large refurbishment programme)
  • Let to Barclays Bank who have been in occupation since 1969
  • Attractive town centre location
  • Currently producing £87,400 per annum 
  • NO VAT applicable
  • Reflecting a gross yield of 9.2% gross yield
     

Contact Us

Mat Harris
Mat Harris
Property Agent, here to help.

Contact Us

Mat Harris
Mat Harris
Property Agent, here to help.

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Property description

An attractive six storey period building of traditional construction built in 1873. It totals about 889.10 sq m (9,571 sq ft) and underwent a major refurbishment. Barclays Bank have been in occupation since 1969 and currently use the ground floor as the main banking hall with the upper floors as ancillary offices. There are 6 car parking spaces to the rear. 

Location

Kendal is a market town and civil parish in the South Lakeland District of Cumbria. Historically in Westmorland, it lies 8 miles south east of Windermere, 19 miles north of Lancaster, 23 miles north east of Barrow-in-Furness and 38 miles north west of Skipton, in the dale of the River Kent, from which comes its name. Kendal is the main gateway town to the Lake District, with excellent road access with the A65 joining the M6, and nearby A501 to Windermere. The property is located on the east side of Highgate between its junction with Finkle Street and Lowther Street. Nearby occupiers include Boots, Savers, Greggs and Bank of Scotland.

Planning

South Lakeland District Council (01539 733333) www.southlakeland.gov.uk

Tenure

Freehold

Additional Details

Floor

Accommodation

Tenancy

Rent PA

Basement

Lower Ground

Upper Ground

Ground

First

Second

99.00 sq m (1,066 sq ft)

41.15 sq m (443 sq ft)

56.30 sq m (606 sq ft)

359.05 sq m (3,865 sq ft)

217.85 sq m (2,345 sq ft)

115.75 sq m (1,246 sq ft)

Let to Barclays Bank PLC for 20 years from 06/03/2007 with 5 years yearly rent reviews

£87,400

TOTAL

889.10 sq m (9,571 sq ft)

 

£87,400

Measurements provided by the vendor. For the year ending 31 December 2018 Barclays Bank PLC reported a turnover of £13,600,000,000, a pre-tax profit of £1,286,000,000 million and a total net worth of £46,382,000,000 million (source Companies House).

VAT

VAT Not Applicable.

Energy Performance Indicator

Energy Rating C Band 58

BER Details

Rating C Band 58

Helpful links

*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £2,400 (inclusive of VAT) for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (inclusive of VAT). In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All Lots sold “Subject to Vendor Confirmation” will be subject to acceptance and confirmation by the Vendor. The highest bid will be presented to the Vendor, the Vendor will have to either accept, decline or make a counteroffer, within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising of the offer the Vendor is willing to accept. The Highest Bidder will be obliged to accept or reject the Vendor's counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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