9 Buttermarket Bury St Edmunds Suffolk IP33 1DB

9 Buttermarket
Bury St Edmunds
Suffolk
IP33 1DB

Freehold Bank Investment

Let to Lloyds Bank Plc until 2026 (no breaks)
Reversionary lease signed in 2017 and rent rebased
Affluent and historic market town
Nearby occupiers include Holland & Barrett, Cote Brasserie, Waterstones and Edinburgh Woollen Mill

Lot
16
Auction
4th April 2019
Rent
£135,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Important Update Interested?

Expand
Photos
Map

Freehold Bank Investment

Let to Lloyds Bank Plc until 2026 (no breaks)
Reversionary lease signed in 2017 and rent rebased
Affluent and historic market town
Nearby occupiers include Holland & Barrett, Cote Brasserie, Waterstones and Edinburgh Woollen Mill

Lot 16
Auction 4th April 2019
Rent £135,000 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Status Withdrawn Post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: 25 miles north-west of Ipswich, 29 miles east of Cambridge
Roads: A14, A134, A143
Rail: Bury St Edmunds Railway Station
Air: London Stansted Airport

Situation

Bury St Edmunds is an affluent and historic market town situated off the A14, which provides access to Cambridge to the west and Ipswich to the southeast. The property is prominently situated in the heart of the town centre on the southern side of Buttermarket, where busy markets are held twice weekly. Nearby occupiers include Holland & Barrett, Côte Brasserie, Waterstones and Edinburgh Woollen Mill.

Tenure

Freehold.

Location

Miles: 25 miles north-west of Ipswich, 29 miles east of Cambridge
Roads: A14, A134, A143
Rail: Bury St Edmunds Railway Station
Air: London Stansted Airport

Situation

Tenure

Freehold.

Description

The property, an attractive Grade II listed, four storey building, comprises a ground floor banking hall with first and second floor office accommodation and basement ancillary

VAT

VAT is not applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk.

Description

The property, an attractive Grade II listed, four storey building, comprises a ground floor banking hall with first and second floor office accommodation and basement ancillary

VAT

VAT is not applicable to this lot.

EPC

Band D. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground Basement First Second	Banking Hall Ancillary Office Office	233.80 sq m 92.70 sq m 156.70 sq m 101.10 sq m	(2,516 sq ft) (997 sq ft) (1,686 sq ft) (1,088 sq ft)	LLOYDS BANK PLC (1)	15 years from 24/06/2011 (2) on a full repairing and insuring lease	£135,000	23/06/2026
Total		584.30 sq m	(6,287 sq ft)			£135,000

(1) For the year ending 31st December 2017, Lloyds Bank Plc reported pre-tax profits of £5,035,000,000 and a total net worth of £47,675,000,000 (Source: Experian 06/06/2018).
(2) The current lease is for a term of 10 years expiring 23/06/2021, although, in addition, a reversionary lease is in place from 23/06/2021 until 20/03/2027. As part of the reversionary lease, the rent was re-based from £149,500 to £135,000 with no further rent reviews for the remainder of the term.