Lloyds Bank 75 Cheap Street Sherborne Dorset DT9 3BD

  • Lloyds Bank<br>75 Cheap Street<br>Sherborne<br>Dorset<br>DT9 3BD

Lloyds Bank
75 Cheap Street
Sherborne
Dorset
DT9 3BD

Freehold Bank and Residential Investment

  • Entirely let to Lloyds Bank plc
  • Tenant in occupation since at least 2001
  • Rent increased from £55,000 p.a.x. at July 2016 rent review and from £51,000 p.a.x. at 2011 lease renewal
  • Includes two substantial self-contained two bedroom residential flats
  • Historic and highly affluent market town – popular with tourists
  • Future asset management opportunities
  • Lot
    6
  • Auction
    28th March 2018
  • Rent
    £66,600 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,195,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Bank and Residential Investment

  • Entirely let to Lloyds Bank plc
  • Tenant in occupation since at least 2001
  • Rent increased from £55,000 p.a.x. at July 2016 rent review and from £51,000 p.a.x. at 2011 lease renewal
  • Includes two substantial self-contained two bedroom residential flats
  • Historic and highly affluent market town – popular with tourists
  • Future asset management opportunities
  • Lot 6
  • Auction 28th March 2018
  • Rent £66,600 per Annum Exclusive
  • Status Sold
  • Price £1,195,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
5 miles east of Yeovil, 25 miles north of Weymouth, 35 miles north-west of Poole and Bournemouth
Roads
A37, A359, A303
Rail
Sherborne Railway Station
Air
Bournemouth Airport
Situation

Sherborne is a historic, attractive and highly affluent Dorset market town, popular with tourists and famous for its medieval buildings, Abbey and public schools. The property is situated on the east side of Cheap Street, the town’s principal retailing thoroughfare and nearby occupiers include Fat Face, Joules, WH Smith, Crew Clothing, The Edinburgh Woollen Mill, Boots, Orvis, Waitrose and a number of independent boutique retailers.

Tenure

Freehold.

Location
Miles
5 miles east of Yeovil, 25 miles north of Weymouth, 35 miles north-west of Poole and Bournemouth
Roads
A37, A359, A303
Rail
Sherborne Railway Station
Air
Bournemouth Airport
Situation

Sherborne is a historic, attractive and highly affluent Dorset market town, popular with tourists and famous for its medieval buildings, Abbey and public schools. The property is situated on the east side of Cheap Street, the town’s principal retailing thoroughfare and nearby occupiers include Fat Face, Joules, WH Smith, Crew Clothing, The Edinburgh Woollen Mill, Boots, Orvis, Waitrose and a number of independent boutique retailers.

Tenure

Freehold.

Description

The property, an attractive Grade II Listed building, comprises ground floor banking and ancillary accommodation with two substantial self-contained two bedroom residential flats on the first and second floors. The property has a substantial courtyard/garden to the rear where there are additional outbuildings. The flats are well proportioned and benefit from period features including high ceilings and have an attractive outlook onto Cheap Street and the garden/courtyard to the rear.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

The property, an attractive Grade II Listed building, comprises ground floor banking and ancillary accommodation with two substantial self-contained two bedroom residential flats on the first and second floors. The property has a substantial courtyard/garden to the rear where there are additional outbuildings. The flats are well proportioned and benefit from period features including high ceilings and have an attractive outlook onto Cheap Street and the garden/courtyard to the rear.

VAT

VAT is not applicable to this lot.

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 Reversion
Ground

First
Second		 Banking
Hall/Ancillary
Two bedroom flat
Two bedroom flat
210.70 sq m

95.00 sq m
95.00 sq m
(2,268 sq ft)

(1,023 sq ft) (3)
(1,023 sq ft) (3)
 LLOYDS BANK
PLC (1) (2)		 10 years from
25/07/2011 on a
full repairing and
insuring lease		 £66,000 25/07/2021
Total
400.70 sq m
(4,314 sq ft) (3)
     £66,000  

(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 £49,326,000,000 (Source: Experian Group 01/03/2018).
(2) The tenant has sublet the residential first and second floor flats.
(3) The approximate residential floor areas stated are on a gross internal basis (GIA).

Contacts

Seller's Solicitors
Clarke Willmott LLP Blackbrook Gate, Blackbrook Park Avenue
Taunton
TA1 2PG
Sarah Manley 0345 209 1690sarah.manley@clarkewillmott.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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