Neighbouring occupiers include Superdrug, Greggs, Santander, Nationwide and Holland & Barrett
Lot 19
Auction 21st July 2021
Rent £59,750 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
12 miles north-west of Ipswich,
15 miles south-east of Bury St Edmunds,
25 miles north of Colchester
33 miles south of Norwich
Roads
A14, A134, A140, M11, A1(M)
Rail
Stowmarket Railway Station
Air
Norwich International Airport,
London Stansted Airport
Situation
The property is situated in the town's prime trading location, on the north side of the pedestrianised Market Place. Neighbouring occupiers include Superdrug, Greggs, Santander, Nationwide and Holland & Barrett.
Stowmarket is a growing town, with a new 1,000,000 sq ft business park due to be developed next to the A14 at Junction 50.
Tenure
Freehold.
Location
Miles
12 miles north-west of Ipswich,
15 miles south-east of Bury St Edmunds,
25 miles north of Colchester
33 miles south of Norwich
Roads
A14, A134, A140, M11, A1(M)
Rail
Stowmarket Railway Station
Air
Norwich International Airport,
London Stansted Airport
Situation
The property is situated in the town's prime trading location, on the north side of the pedestrianised Market Place. Neighbouring occupiers include Superdrug, Greggs, Santander, Nationwide and Holland & Barrett.
Stowmarket is a growing town, with a new 1,000,000 sq ft business park due to be developed next to the A14 at Junction 50.
Tenure
Freehold.
Description
The property comprises a period building with ground floor Banking hall accommodation, ancillary accommodation on the first and second floors and storage accommodation in the basement. Part of the second floor is accessed via a ladder. The property benefits from rear access and car parking via Church Walk.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D. See legal pack.
Description
The property comprises a period building with ground floor Banking hall accommodation, ancillary accommodation on the first and second floors and storage accommodation in the basement. Part of the second floor is accessed via a ladder. The property benefits from rear access and car parking via Church Walk.
6 years from 24/06/2021 on a full repairing and insuring lease
£59,750
23/06/2027
Total Approximate Floor Area
511.60 sq m
(5,506 sq ft) (2)
£59,750 (3)
(1) For the year ending 31st December 2020, TSB Bank plc reported a turnover of £1,064,000,000, a pre-tax profit of negative £200,500,000 and shareholder funds of £1,724,900,000 (Source: NorthRow 28/06/2021). Lloyds TSB has been in occupation of the property since at least 1995. (2) The above floor areas have been published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/16079625000 (3) The rent reserved under the previous lease was £59,750 per annum exclusive.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
