TSB 7 Market Place Stowmarket Suffolk IP14 1DY

TSB
7 Market Place
Stowmarket
Suffolk
IP14 1DY

Freehold Bank Investment

Let to TSB Bank plc until 2027
Let on a renewed lease from June 2021
Lloyds TSB in occupation since at least 1995
Prime pedestrianised town centre location
Rear access and car parking via Church Walk
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Withdrawn Post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
Auction Venue
Live Streamed Auction
On Behalf of Trustees

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Freehold Bank Investment

Let to TSB Bank plc until 2027
Let on a renewed lease from June 2021
Lloyds TSB in occupation since at least 1995
Prime pedestrianised town centre location
Rear access and car parking via Church Walk
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Status Withdrawn Post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

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

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second Basement	Banking Hall Ancillary Ancillary Storage	250.90 sq m 143.30 sq m 53.90 sq m 63.50 sq m	(2,701 sq ft) (1,542 sq ft) (580 sq ft) (683 sq ft)	TSB BANK PLC (1)	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.