Lloyds Bank 5 Market Square Stafford Staffordshire ST16 2JL

Lloyds Bank
5 Market Square
Stafford
Staffordshire
ST16 2JL

Freehold Bank Investment

Entirely Let to Lloyds Bank PLC
Recently extended lease to expire in June 2031 (subject to option in June 2029)
Highly Attractive and Substantial Grade II Listed Bank Building
Approximate Floor Area of 745.40 sq m (8,021 sq ft)
Busy Town Centre location opposite the Guildhall Shopping Centre
Nearby occupiers include HSBC, Santander Bank, Barclays Bank, Boots, WHSmith and Holland & Barrett

Lot
7
Auction
13th December 2023
Rent
£79,000 per Annum Exclusive
Status
Sold
Price
£743,000
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

Freehold Bank Investment

Entirely Let to Lloyds Bank PLC
Recently extended lease to expire in June 2031 (subject to option in June 2029)
Highly Attractive and Substantial Grade II Listed Bank Building
Approximate Floor Area of 745.40 sq m (8,021 sq ft)
Busy Town Centre location opposite the Guildhall Shopping Centre
Nearby occupiers include HSBC, Santander Bank, Barclays Bank, Boots, WHSmith and Holland & Barrett

Lot 7
Auction 13th December 2023
Rent £79,000 per Annum Exclusive
Status Sold
Price £743,000
Sector
Bank
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 22 miles north of Birmingham, 13 miles south of Stoke-on-Trent
Roads: M6, A518, A34
Rail: Stafford Railway Station
Air: Birmingham International Airport

Situation

Stafford is a popular county town and the administrative centre of Staffordshire. The property is situated in a prime position within Stafford town centre on the eastern side of Market Square, at its junction with Market Street and opposite the Guildhall Shopping Centre. Nearby occupiers include HSBC, Santander Bank, Barclays Bank, Boots, WHSmith and Holland & Barrett.

Tenure

Freehold.

Location

Miles: 22 miles north of Birmingham, 13 miles south of Stoke-on-Trent
Roads: M6, A518, A34
Rail: Stafford Railway Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property, a highly attractive Grade II listed building comprises ground floor banking hall plus mezzanine level with ancillary accommodation on the basement, first and second floors with a total approximate floor area of 745.40 sq m (8,021 sq ft).

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

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 sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground Mezzanine Basement First Second	Banking Hall Office Storage Office/Ancillary Office/Ancillary	295.00 45.10 118.90 142.70 143.70	(3,175) (485) (1,279) (1,536) (1,546)	LLOYDS BANK PLC (1)	20 years from 24/06/2011 until 23/06/2031 (2) (3) on a full repairing and insuring lease	£79,000	24/06/2026
Total		745.40	(8,021) (4)			£79,000

(1) For the year ending 31/12/2022, Lloyds Bank PLC reported a Turnover of £21,303,000,000, a Pre-Tax Profit of £6,094,000,000 and a Net Worth of £33,853,000,000 (NorthRow 7/11/2023).
(2) The original lease was for a term of 15 years from 24/06/2011 until 23/06/2026, the lease has been recently extended for a further 5 years to expire on 23/06/2031.
(3) The lease provides for a tenant option to determine on 23/06/2029, subject to a payment of £19,750 from the tenant.
(4) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk).

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.