5/7 Sherrard Street Melton Mowbray Leicestershire LE13 1XR

5/7 Sherrard Street
Melton Mowbray
Leicestershire
LE13 1XR

Freehold Bank Investment

Let to Lloyds Banking Group Plc until 2023 (no breaks)
Prosperous and Historic Market Town
No VAT payable
Prominent Town Centre Location
Neighbouring occupiers include Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots

Lot
23
Auction
22nd May 2014
Rent
£60,150 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Bank Investment

Let to Lloyds Banking Group Plc until 2023 (no breaks)
Prosperous and Historic Market Town
No VAT payable
Prominent Town Centre Location
Neighbouring occupiers include Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots

Lot 23
Auction 22nd May 2014
Rent £60,150 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 15 miles east of Loughborough; 15 miles north-east of Leicester; 19 miles south-east of Nottingham
Roads: A606, A607, A46, M1 (Junction 21a)
Rail: Melton Mowbray Railway Station
Air: East Midlands Airport

Situation

The property is situated in the prosperous and historic market town of Melton
Mowbray, prominently situated on the north side of Sherrard Street close to its
junction with the pedestrianised Market Place. Neighbouring occupiers include
Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots.

Tenure

Freehold.

Location

Miles: 15 miles east of Loughborough; 15 miles north-east of Leicester; 19 miles south-east of Nottingham
Roads: A606, A607, A46, M1 (Junction 21a)
Rail: Melton Mowbray Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation in the basement and first floor. The property benefits from a substantial frontage to the busy Sherrard Street.

VAT

VAT is not applicable to this lot.

Viewings

There will only be one viewing date. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact
Will Moore. Telephone: +44 (0)20 7034 4858.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises a ground floor banking hall with ancillary accommodation in the basement and first floor. The property benefits from a substantial frontage to the busy Sherrard Street.

VAT

VAT is not applicable to this lot.

Viewings

There will only be one viewing date. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact
Will Moore. Telephone: +44 (0)20 7034 4858.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Basement Ground First	Ancillary Banking Hall Ancillary	24.53 sq m 290.32 sq m 25.46 sq m	(264 sq ft) (3,125 sq ft) (274 sq ft)	LLOYDS BANKING GROUP PLC (1)	10 years from 24/06/2013 until 2023 on a full repairing and insuring lease	£60,150 (2)	24/06/2018
Totals		340.31 sq m	(3,663 sq ft)			£60,150 (2)

(1) For the year ending 31/12/2013, Lloyds Banking Group Plc reported a working capital of £252,341,000,000, pre-tax profits of £415,000,000 and a total net worth of £34,694,000,000. (Source: www.riskdisk.com 22/04/2014)
(2)The tenant is currently paying a concessionary rent of £30,075 per annum exclusive until 28/09/2014 when the rent will increase to £60,150 per annum exclusive. The seller will pay the buyer the difference between £60,150 p.a.x. and £30,075 p.a.x. from completion of the sale until 28/09/2014. Therefore the property will produce £60,150 p.a.x. from completion of the sale.