33 Westgate Peterborough Cambridgeshire PE1 1PU

33 Westgate
Peterborough
Cambridgeshire
PE1 1PU

Freehold Bank Investment

Let to Co-Operative Bank plc (in occupation since 1983). Lease renewal
City centre location
Residential redevelopment potential of upper part (subject to consents)
Nearby occupiers include Lloyds TSB, John Lewis and Anglia Co-Operatives Westgate Department Store
Six Week Completion Available

Lot
16
Auction
10th July 2012
Rent
£75,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Bank Investment

Let to Co-Operative Bank plc (in occupation since 1983). Lease renewal
City centre location
Residential redevelopment potential of upper part (subject to consents)
Nearby occupiers include Lloyds TSB, John Lewis and Anglia Co-Operatives Westgate Department Store
Six Week Completion Available

Lot 16
Auction 10th July 2012
Rent £75,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 37 miles north of Cambridge 42 miles east of Leicester
Roads: A1(M), A15, A47
Rail: Peterborough
Air: London Stansted Airport

Situation

Peterborough is a major regional and commercial centre situated north of Cambridge and east of Leicester. Peterborough has excellent communications links via the A1(M) and the A15. The property is situated in the heart of the city centre on the south side of Westgate, some 50 metres from the entrance to the major Queensgate Shopping Centre with nearby occupiers including Lloyds TSB, John Lewis and Anglia Co-Operatives Westgate Department Store.

Tenure

Freehold.

Location

Miles: 37 miles north of Cambridge 42 miles east of Leicester
Roads: A1(M), A15, A47
Rail: Peterborough
Air: London Stansted Airport

Situation

Tenure

Freehold.

Description

The property comprises banking accommodation on the ground floor and office accommodation on the first and second floors accessed via separate entrance via Westgate.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property comprises banking accommodation on the ground floor and office accommodation on the first and second floors accessed via separate entrance via Westgate.

VAT

VAT is not applicable to this lot.

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	Shop/Office Offices Office	454.02 sq m 363.62 sq m 171.50 sq m	(4,887 sq ft) (3,914 sq ft) (1,846 sq ft)	CO-OPERATIVEBANK PLC (1)	5 years from 12/01/2012 until 11/01/2017 on a full repairing and insuring lease (2)	£75,000	2015
Totals		989.14 sq m	(10,647 sq ft)			£75,000

(1) For the year ending 31st December 2011, The Co-Operative Bank plc reported a pre-tax profit of £69,800,000 and a net worth of£2,198,400,000. (Source: www.riskdisk.co.uk 12/06/2012)
(2)The lease provides for a tenant option to determine the lease on 12th January 2015 subject to 6 months notice.