Lloyds Bank 6 Lowther Street Carlisle Cumbria CA3 8DB

  • Lloyds Bank<br>6 Lowther Street<br>Carlisle<br>Cumbria<br>CA3 8DB

Lloyds Bank
6 Lowther Street
Carlisle
Cumbria
CA3 8DB

Freehold Bank Investment

  • Entirely let to Lloyds Bank Plc
  • New 15 year lease from 29th December 2016 (No Breaks)
  • Favourable alienation provisions within the lease
  • Imposing Building comprising circa 11,416 sq ft
  • Prominent City Centre location close to Pizza Express, RBS Bank and Nationwide Building Society
  • VAT-free Bank Investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    9
  • Auction
    25th May 2017
  • Rent
    £63,650 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,100,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Bank Investment

  • Entirely let to Lloyds Bank Plc
  • New 15 year lease from 29th December 2016 (No Breaks)
  • Favourable alienation provisions within the lease
  • Imposing Building comprising circa 11,416 sq ft
  • Prominent City Centre location close to Pizza Express, RBS Bank and Nationwide Building Society
  • VAT-free Bank Investment
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 9
  • Auction 25th May 2017
  • Rent £63,650 per Annum Exclusive
  • Status Sold
  • Price £1,100,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
12 miles north of Lake District National Park, 60 miles west of Newcastle upon Tyne
Roads
A7, A69, A595, A689, M6 (Junction 43)
Rail
Carlisle Railway Station
Air
Newcastle International Airport
Situation

Carlisle is an historic University City and the commercial and administrative centre for Cumbria.
The property is located on the eastern side of Lowther Street, opposite Devonshire Street which connects to English Street, in the heart of the City Centre. The Lanes Shopping Centre is located
nearby, with occupiers including Debenhams, JD Sports, Next and New Look. Other nearby
occupiers include Pizza Express, Boots the Chemist, WH Smith, River Island and branches of
RBS, NatWest, HSBC and Barclays Banks.

Tenure

Freehold.

Location
Miles
12 miles north of Lake District National Park, 60 miles west of Newcastle upon Tyne
Roads
A7, A69, A595, A689, M6 (Junction 43)
Rail
Carlisle Railway Station
Air
Newcastle International Airport
Situation

Carlisle is an historic University City and the commercial and administrative centre for Cumbria.
The property is located on the eastern side of Lowther Street, opposite Devonshire Street which connects to English Street, in the heart of the City Centre. The Lanes Shopping Centre is located
nearby, with occupiers including Debenhams, JD Sports, Next and New Look. Other nearby
occupiers include Pizza Express, Boots the Chemist, WH Smith, River Island and branches of
RBS, NatWest, HSBC and Barclays Banks.

Tenure

Freehold.

Description

The property is Grade II listed and comprises a ground floor banking hall, with basement ancillary
accommodation and office/ancillary accommodation on the first floor and second floors, part of which is sublet to a recruitment office.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.

Completion Period

Six Week Completion

EPC

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

Description

The property is Grade II listed and comprises a ground floor banking hall, with basement ancillary
accommodation and office/ancillary accommodation on the first floor and second floors, part of which is sublet to a recruitment office.

VAT

VAT is not applicable to this lot.

Note

The tenant is only able to assign the lease to the Government, a Local or Public Authority, or a company which has had a Dun & Bradstreet rating of 5A1 or better for the three years preceding the date of any proposed assignment or (where the original tenant is the assignor only) to a group of the original tenant and if the lease is assigned to a group company of the original tenant then no further assignment is allowed. The landlord can require an AGA.

Completion Period

Six Week Completion

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 Reviews
Ground
Basement
Part First - Rear
Part First - Front (sublet)
Second

 Banking Hall/Ancillary
Ancillary
Offices/Ancillary
Offices/Ancillary

Disused
426.33 sq m
159.70 sq m
238.67 sq m
134.15 sq m

101.73 sq m
4,589 sq ft)
(1,719 sq ft)
(2,569 sq ft)
(1,444 sq ft)

(1,095 sq ft)
 LLOYDS
BANK PLC
(1) (2)
 15 years from
29/12/2016
until
28/12/2031 on
a full repairing
and insuring
lease
 £63,650
 29/12/2021
29/12/2026
Totals  
1060.58 sq m
(11,416 sq ft)
     £63,650
  

(1) For the year ending 31st December 2016, Lloyds Bank Plc reported pre-tax profits of £1,977,000,000 and a total net worth of £47,806,000,000 (Source: Experian Group 25/04/2017).
(2) Part of the first floor offices at the front of the building are sublet to Hays Specialist Recruitment Limited at a sublet rent of £8,500 p.a.x. Two basement storerooms are sublet to D.M. Ward on a long lease at a peppercorn rent.

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG 0203 036 7702
Barbara Eilon 0203 036 7202beilon@fladgate.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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