Attractive Grade II Listed building in prime town centre location
New 10 year lease to Lloyds TSB Bank plc until 2022
Close to Waterborne Walk Retail Centre
Nearby occupiers include Boots, Lloyds Pharmacy, Barclays Bank, Thorntons and Iceland
Six Week Completion Period Available
Lot 3
Auction 29th March 2012
Rent £39,500 per Annum Exclusive
Status Sold
Price £780,000
Sector Bank
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of P Matthews and E Starling as Joint LPA Receivers, Wedlake Bell
Property Information
Location
Miles
12.6 miles north-west of Luton, 12.1 miles south of Milton Keynes
Roads
A5, M1 (Junction 11),
Rail
Leighton Buzzard Rail (34 minutes to London Euston)
Air
London Luton Airport
Situation
The property is situated in a prime town centre location on the northern side of Market Square at its junction with High Street and North Street. The property is located within a short distance of Waterborne Walk Retail Centre which houses retailers such as Waitrose, New Look, Blockbuster and Dorothy Perkins. Other
nearby occupiers include Boots, Lloyds Pharmacy, Barclays Bank, Thorntons and Iceland.
Tenure
Freehold.
Location
Miles
12.6 miles north-west of Luton, 12.1 miles south of Milton Keynes
Roads
A5, M1 (Junction 11),
Rail
Leighton Buzzard Rail (34 minutes to London Euston)
Air
London Luton Airport
Situation
The property is situated in a prime town centre location on the northern side of Market Square at its junction with High Street and North Street. The property is located within a short distance of Waterborne Walk Retail Centre which houses retailers such as Waitrose, New Look, Blockbuster and Dorothy Perkins. Other
nearby occupiers include Boots, Lloyds Pharmacy, Barclays Bank, Thorntons and Iceland.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall and offices, staff room and further office accommodation on first floor, and plant accommodation on second floor.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will only be one block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall and offices, staff room and further office accommodation on first floor, and plant accommodation on second floor.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is not applicable to this lot.
Viewings
There will only be one block viewing for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Gwen Thomas. Tel: +44 (0)20 7034 4857.
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 First Second
Banking Hall/Office Office/Staff Room Plant Room
123.98 sq m 80.62 sq m Not Measured
(1,335 sq ft) (868 sq ft) Not Measured
LLOYDS TSB BANK PLC (1)
10 years from 02/02/2012 until 01/02/2022 on a full repairing and insuring lease (3)
£39,500
02/02/2017
Totals
204.60 sq m
(2,203 sq ft)
£39,500 (2)
(1) For the year ending 31st December 2010, Lloyds TSB Bank plc reported pre-tax profits of £725,000,000 and a total net worth of £41,379,000,000. (Source: www.riskdisk.com 05/03/2012) (2)The tenant is currently benefiting from a rent free period due to expire on 1st February 2013. The seller has agreed to adjust the completion monies so that the property will effectively produce £39,500 from completion of the sale. (3)The new lease entered into by Lloyds TSB Bank is a renewal of a previous 15 year lease from 1997
