61 - 63 London Road North Lowestoft Suffolk NR32 1LT

61 - 63 London Road North
Lowestoft
Suffolk
NR32 1LT

Freehold Bank Investment

Let to Barclays Bank Plc until 2027
No breaks – 2022 break option removed (2)
Prime pedestrianised town centre location opposite Marks & Spencer
Close proximity to The Britten Shopping Centre
Nearby retailers include Shoe Zone, Vodafone, Boots and The Body Shop
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
23
Auction
16th February 2017
Rent
£140,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Bank Investment

Let to Barclays Bank Plc until 2027
No breaks – 2022 break option removed (2)
Prime pedestrianised town centre location opposite Marks & Spencer
Close proximity to The Britten Shopping Centre
Nearby retailers include Shoe Zone, Vodafone, Boots and The Body Shop
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 23
Auction 16th February 2017
Rent £140,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads: A12, A146, A11, M11
Rail: Lowestoft Rail
Air: Norwich International Airport

Situation

The property is situated on the western side of London Road North, Lowestoft's prime pedestrianised retail thoroughfare. The property is located a short distance from The Britten Shopping Centre which houses retailers including Iceland, WH Smith and Poundland. Other nearby occupiers include Marks & Spencer ,Shoe Zone, Vodafone, Boots and The Body Shop.

Tenure

Freehold.

Location

Miles: 10 miles south of Great Yarmouth, 27 miles south-east of Norwich
Roads: A12, A146, A11, M11
Rail: Lowestoft Rail
Air: Norwich International Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with office accommodation at first floor and additional basement ancillary accommodation. The property benefits from car parking at the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be a block viewing for this property. Please register your interest with Georgina Roberts
Tel: +44 (0)20 7034 4863.
Email: georgina.roberts@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 accommodation at first floor and additional basement ancillary accommodation. The property benefits from car parking at the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be a block viewing for this property. Please register your interest with Georgina Roberts
Tel: +44 (0)20 7034 4863.
Email: georgina.roberts@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 Basement First	Banking Hall Ancillary Office	375.89 sq m 113.89 sq m 321.53 sq m	(4,046 sq ft) (1,226 sq ft) (3,461 sq ft)	BARCLAYS BANK PLC (1)	20 years from 27/04/2007 until 26/04/2027 (2)	£140,000	27/04/2022
Total		811.31 sq m	(8,733 sq ft)			£140,000

1) Barclays Bank Plc operates in over 40 countries, with over 130,000 employees worldwide (Source: www.home.barclays.com 21/12/2016). For the year ending 31st December 2015, Barclays Bank plc reported pre-tax profits of £2,841,000,000 and a total net worth of £55,845,000,000. (Source: Experian Group: 21/12/2016).
(2) The lease provided a tenant option to determine in 2022 which was removed in return for an agreed concessionary rent expiring 28th September 2019. The seller has agreed to adjust the completion monies so that the unit will effectively produce £140,000 p.a.x. from completion of the sale. Please refer to the legal pack for further information.