4/4a/4b/4c King Street Thetford Norfolk IP24 2AP

4/4a/4b/4c King Street
Thetford
Norfolk
IP24 2AP

High Yielding Double-fronted Freehold Bank Investment with Imminent Asset Management Opportunities

Let to Bank of Scotland Plc (t/a Halifax)
Lease expires November 2024 (tenant vacating at lease expiry)
Imminent Asset management opportunities including potential dilapidations and possible subdivision into two shops
Double-fronted bank comprising approximately 2,149 sq ft with parking to the rear
VAT-free investment
Prime pedestrianised town centre location
Nearby retailers include Iceland, Poundland, The Works, Boots Pharmacy, Superdrug (adjoining), Costa, Subway, Domino's and JD Wetherspoon

Lot
27
Auction
9th July 2024
Rent
£32,000 per Annum Exclusive
Status
Sold
Price
£231,000
Auction Venue
Live Streamed Auction

Important Update Interested?

Expand
Photos
Map

High Yielding Double-fronted Freehold Bank Investment with Imminent Asset Management Opportunities

Let to Bank of Scotland Plc (t/a Halifax)
Lease expires November 2024 (tenant vacating at lease expiry)
Imminent Asset management opportunities including potential dilapidations and possible subdivision into two shops
Double-fronted bank comprising approximately 2,149 sq ft with parking to the rear
VAT-free investment
Prime pedestrianised town centre location
Nearby retailers include Iceland, Poundland, The Works, Boots Pharmacy, Superdrug (adjoining), Costa, Subway, Domino's and JD Wetherspoon

Lot 27
Auction 9th July 2024
Rent £32,000 per Annum Exclusive
Status Sold
Price £231,000
Sector
Bank
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 13 miles north of Bury St Edmunds, 35 miles south-west Norwich, 35 miles north-west of Ipswich
Roads: A11, A134, A1066
Rail: Thetford Train Station
Air: Stansted Airport

Situation

The property is situated on the northern side of King Street, the prime pedestrianised retailing pitch. There is a large public car park to the rear of the property for approximately 40 cars. Nearby retailers include Iceland, Poundland, The Works, Boots the Pharmacy, Superdrug (adjoining), Costa, Subway, Domino's and JD Wetherspoon.

Tenure

Freehold.

Location

Miles: 13 miles north of Bury St Edmunds, 35 miles south-west Norwich, 35 miles north-west of Ipswich
Roads: A11, A134, A1066
Rail: Thetford Train Station
Air: Stansted Airport

Situation

Tenure

Freehold.

Description

The property currently comprises a double-fronted bank with ground floor retail and first floor ancillary accommodation. The property benefits from parking to the rear and may be capable of being subdivided into two shops.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Description

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.
Ground First	Banking Hall/Ancillary Ancillary	142.52 57.18	(1,534) (615)	BANK OF SCOTLAND PLC (1) (t/a Halifax)	10 years from 25/12/2014 on a full repairing and insuring lease (2)	£32,000
Total		199.70	(2,149)			£32,000

(1) For the year ending 31/12/2023, Bank of Scotland PLC reported a Turnover of £12,543,000,000, a Pre-Tax Profit of £351,000,000 and a Net Worth of £16,139,000,000 (www.northrow.com).
(2) The tenant has confirmed that they will vacate the property at the end of the lease.

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.