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
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.
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
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.
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.
