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
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.
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
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.
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.
Contacts
Associate Auctioneers
Bidwells LLP 25 Old Burlington Street London W1S 3AN
