Lloyds Bank, 10/12 Swan Street, Warwick, CV34 4BJ
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Franck-Steier Price Ltd (FSP) has recently completed the acquisition of a Lloyds Bank investment in central Warwick. Acting for a local charity the investment was purchased for £775,000.
The property comprises a ground floor banking hall with first floor offices and staff accommodation, there is ancillary space at 2nd floor and basement levels. 12 Swan Street is sub let to The Bakehouse Bakery.
The property is let in its entirety to Lloyds Bank plc for 10 years from 14 May 2014. There is a tenant break option at the 5th year. The current passing rent is £49,250 per annum.
12 Swan Street is sublet to The Bakehouse Bakery on a 5 year term from 14 May 2014 at £13,500 per annum.
The purchase reflected an initial yield of 6%. Reid Rose Gregory represented the vendor.
