Let to Barclays Bank plc on a 20 year lease until 2027 (subject to option)
Nearby occupiers include NatWest Bank, Nationwide, Tote Bookmakers and Norwich & Peterborough Building Society
Prominent attractive town centre location
Lot 30
Auction 10th July 2012
Rent £18,500 per Annum Exclusive
Status Sold Prior
Price
Sector Bank
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On behalf of Peter Welborn and Elaine Tooke – Joint LPA Receivers
Property Information
Location
Miles
5 miles east of Peterborough 27 miles north of Cambridge
Roads
A1, A47, A605
Rail
Whittlesey Rail
Air
Stansted Airport
Situation
The property occupies a prominent corner position in the town centre on the north side of Market Place. Nearby occupiers include NatWest, Nationwide, Norwich & Peterborough Building Society and Tote Bookmakers.
Tenure
Freehold.
Location
Miles
5 miles east of Peterborough 27 miles north of Cambridge
Roads
A1, A47, A605
Rail
Whittlesey Rail
Air
Stansted Airport
Situation
The property occupies a prominent corner position in the town centre on the north side of Market Place. Nearby occupiers include NatWest, Nationwide, Norwich & Peterborough Building Society and Tote Bookmakers.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall and office with ancillary accommodation on the first floor and a self-contained retail unit at 1 High Causeway.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
Note
Please note we are offering the adjoining property as Lot 24 in the catalogue.
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 a ground floor banking hall and office with ancillary accommodation on the first floor and a self-contained retail unit at 1 High Causeway.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
Note
Please note we are offering the adjoining property as Lot 24 in the catalogue.
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
Unit
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews/(Reversion)
4 Market Place & 1-3A High Causeway
Ground First
Banking/Office Ancillary
155.98 sq m 54.63 sq m
(1,679 sq ft) (588 sq ft)
BARCLAYS BANKPLC (1)
20 years from 12/01/2007
£18,500
29/09/2013 and 5 yearly
1 High Causeway
Ground and First
66.70 sq m
(718 sq ft)
INDIVIDUAL (4)
999 years (to be granted upon completion)
Peppercorn
Totals
277.31 sq m
(2,985 sq ft)
£18,500
(1) For the year ending 31st December 2011 Barclays Bank plc reported pre-tax profits of £5,974,000,000 and a net worth of £54,232,000,000.(Source: riskdisk.com 18/06/2012) (2) The tenant has an option to determine the lease at the end of the 15th year and the lease is a full repairing and insuring lease subject to a Schedule of Condition. (3) As to the 2006 rent review, no notices have been served.
