30 - 31 Long Causeway Peterborough Cambridgeshire PE1 1XP

30 - 31 Long Causeway
Peterborough
Cambridgeshire
PE1 1XP

Prime Freehold Bank Investment

Let to TSB Bank plc on a new 10 year lease
Tenant (previously Lloyds Bank plc) in occupation since at least 1998
Opposite Queensgate Shopping Centre
Nearby occupiers include John Lewis, Marks & Spencer, Primark, H&M, Boots and Topshop/Topman
VAT free investment
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
14
Auction
22nd October 2015
Rent
£80,000 per Annum Exclusive
Status
Sold
Price
£1,040,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trinity College Cambridge

Interested?

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Prime Freehold Bank Investment

Let to TSB Bank plc on a new 10 year lease
Tenant (previously Lloyds Bank plc) in occupation since at least 1998
Opposite Queensgate Shopping Centre
Nearby occupiers include John Lewis, Marks & Spencer, Primark, H&M, Boots and Topshop/Topman
VAT free investment
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 14
Auction 22nd October 2015
Rent £80,000 per Annum Exclusive
Status Sold
Price £1,040,000
Sector
Bank
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Trinity College Cambridge

Property Information

Location

Miles: 37 miles north of Cambridge, 42 miles east of Leicester
Roads: A1(M), A15, A16, A47
Rail: Peterborough Railway Station
Air: Stansted Airport, Luton Airport

Situation

The property is prominently situated in a prime position on the east side of pedestrianised Long Causeway, directly opposite an entrance to the major ninety unit Queensgate Shopping Centre, housing retailers including John Lewis, Marks & Spencer, Primark, H&M, Boots and Topshop/Topman. Also close by are Holland & Barrett, Caffè Nero, Starbucks and the historic Peterborough Cathedral.

Tenure

Freehold.

Location

Miles: 37 miles north of Cambridge, 42 miles east of Leicester
Roads: A1(M), A15, A16, A47
Rail: Peterborough Railway Station
Air: Stansted Airport, Luton Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office and ancillary accommodation on the first and second floors.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is not applicable to this lot.

Viewings

There will be a block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Will Moore. Email: will.moore@acuitus.co.uk

EPC

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

Description

VAT

VAT is not applicable to this lot.

Viewings

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
Ground First Second	Banking Hall Office/Ancillary Office/Ancillary	188.00 sq m 139.10 sq m 111.80 sq m	(2,024 sq ft) (1,497 sq ft) (1,203 sq ft)	TSB BANK PLC (1)	Approx 10 years and 2 months from 14/07/2015 until 28/09/2025 on a full repairing and insuring lease (2) (3)	£80,000	14/07/2020
Totals		438.90 sq m	(4,724 sq ft)			£80,000

(1) For the year ending 31st December 2014, TSB Bank Plc reported pre-tax profits of £169,400,000 and a total net worth of £1,642,900,000. (Source: www.riskdisk.com (14/09/2015)
(2)The lease provides for a tenant option to determine on 28th September 2020.
(3)The tenant benefits from a 6 month rent free period commencing 29th September 2015. The seller has agreed to adjust the completion monies so that the property will produce £80,000 p.a.x from completion of the sale.