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Status Withdrawn Post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
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.
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.
