Lloyds Bank, Staines, Greater London
73/75 High Street, Staines, TW18 4PP
- Freehold prime high street bank investment.
- The building comprises a three storey terraced property accessed from High Street with servicing and vehicular access from the rear.
- The property is arranged as a retail/banking hall on ground floor with strong room and storage areas in the basement and a mixture of open plan and cellular offices/ancillary accommodation on the first and second floors.
- Large property with area of 4,999 sq ft.
- Staines is a popular commuter town and office location in the affluent Thames Valley area with an urban resident population of around 50,000 people.
- It is located approximately 27.6 km (17 miles) south west of Central London and 6.4 km (4 miles) south west of Heathrow Airport.
- It benefits from excellent road communications, lying just off the A30 and A308 trunk roads with junction 13 of the M25 motorway nearby.
- The property is located in the heart of the town centre in a prime location on High Street and is situated between Debenhams, which remains Staines’ only department store, and the primary entrances to both shopping schemes.
- The property is let to Lloyds TSB Bank Plc for a term of 15 years from 16th June 2010, subject to an open market rent review in 2015 and 2020 and a tenant’s option to break on 16th June 2022 subject to 6 months notice.
- The current passing rent is £159,000 per annum.
- Lloyds TSB Bank Plc is a subsidiary of Lloyds TSB Group PLC, following the merger of Lloyds TSB and Halifax banking group HBOS. The combined group, with around 145,000 staff and 3,000 branches, controls almost a third of UK’s mortgages and is the largest bank network in the UK.
- The UK government owns 43.4% of Lloyds Banking Group, whilst 36% is owned by Lloyds TSB shareholders and 20% by HBOS shareholders. For the financial year to 31st December 2009, Lloyds TSB Bank Plc reported a Turnover of £29.145 bn, a Net Worth of £11.199 bn and Shareholders’ Funds of £13.42 bn.