• Let to Barclays Bank PLC

• Tenant in occupation since 1992

• Good quality detached office in established commercial location

• Approx 4.35 years to lease expiry

• Freehold

• £1,550,000, subject to contract

• 8.5% net initial yield

• £134 per sq ft capital value

The property is well located within Ten Pound Walk, an established office and business park, and is immediately adjacent to the A6182 (White Rose Way) which is a main arterial route into Doncaster from Junction 3 of the M18 Motorway, a mere 3.2 km (2 miles) to the south.

The property is situated on the eastern side of Ten Pound Walk and is accessed via Heavens Walk. Other nearby occupiers include Tesco, BT, Hitachi, Amazon, NHS, Renault, Thales and ATS Euromaster.

Doncaster town centre and railway station are approximately 1.6 km (1 mile) to the north-west. In addition, the property benefits from being in close proximity to a number of amenities including Lakeside Village, an outlet shopping centre less than 1.6 km (1 mile) to the south-east. The centre has over 45 stores and restaurants including Marks & Spencer, Gap, Next, Holland & Barrett, The Body Shop, Antler, Mountain Warehouse, McDonalds and Costa.

The Frenchgate Shopping Centre is 1.6 km (1 mile) to the north. The centre, which totals approximately 74,322 sq m (800,000 sq ft) along with 1,800 car parking spaces, welcomes over 19 million shoppers a year and has over 140 stores including Debenhams, Next, H&M, River Island, New Look, Sainsbury’s and Boots.

The property comprises a detached, purpose built office arranged over ground and first floors. The property is of concrete frame construction with brick elevations beneath a pitched slate roof.

The ground floor is used by Barclays as a business banking centre and has been extensively fitted out to a high standard in the tenant’s corporate style including secure cashier desk, customer liaison booths, internal cash point, strong room and staff offices. A cash machine and secure deposit point are mounted within the front elevation of the building providing 24 hour access to banking services.

The first floor, accessed by stairs at either end of the building and a passenger lift, has been sub-let to Lidl and provides open plan office accommodation. The sub-tenant comprehensively refurbished the floor in 2017.

Internally, the offices benefit from the following specification:

• Suspended ceilings
• Recessed lighting
• Raised access floors
• 8 person passenger lift
• Air conditioning

The property benefits from 50 car parking spaces, providing a ratio of 1:21 sq m / 231 sq ft.

We estimate the site area to be approximately 0.27 hectares (0.66 acres) which is exceptionally large allowing future expansion, subject to planning.

Freehold.

The tenant, Barclays Bank Plc (Co. No. 01026167), has reported the following figures:

NB: 2017 Reported Half Year Pre-Tax Profits: £2,195 million

Headquartered at Canary Wharf in London, Barclays is a universal bank with operations in retail, wholesale, investment banking, wealth management, mortgage lending and credit cards. With over 325 years of history, Barclays has operations in over 40 countries and employs approximately 120,000 people. The bank is listed on the London and New York Stock Exchange and is a constituent of the FTSE 100. For further information please visit www.home.barclays.

The sub-tenant Lidl UK GMBH (Co. No. FC017929) has reported the following figures:

The first Lidl store opened in 1994 and now have over 650 stores and ten distribution centres across Great Britain employing some 20,000 people. The Lidl brand was founded in Germany and has grown to become one of Europe's leading food retailers.

In August 2017 it was reported that Lidl overtook Waitrose to become Britain’s seventh largest supermarket. Sales grew by 18.9% in the 12 weeks to 13th August, taking its market share to 5.2%, according to industry data from Kantar Worldpanel. For further information visit www.lidl.co.uk.

The vendor has elected the property for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

1. An opportunity to acquire a highly secure office investment;

2. Let to Barclays Bank PLC;

3. The tenant has been in occupation since February 1992, demonstrating their commitment to the property and by lease expiry will have occupied the property for nearly 30 years.

4. The property is in an established commercial location close to the M18 motorway;

5. The property benefits from an attractive car parking supply;

6. In October 2017 a long leasehold office investment in Lincoln let to Barclays Bank PLC sold for £1,240,000, reflecting a net initial yield of 7.6%. The property, totalling 10,814 sq ft, is situated on Tritton Road and is let until March 2025 (7.5 years unexpired) at a passing rent of £100,000 per annum.

7. A purchase at the asking price reflects an attractive net initial yield.