Let to Lloyds Bank plc on a new 10 year lease until June 2022 (No breaks)
Re-based rent from June 2012
Branch re-fitted in 2013
Affluent market town
Nearby occupiers include Marks & Spencer Simply Food, Waitrose, Caffè Nero, Greggs Café and Waterstones
Lot 27
Auction 11th December 2014
Rent £45,550 per Annum Exclusive
Status Sold
Price £900,000
Sector Bank
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
15 miles west of Cambridge
57 miles north of Central London
Roads
A1, A421, A428
Rail
St Neots Rail Station
Air
Luton Airport, Stansted Airport
Situation
St Neots is an attractive, historic commuter and market town and is the largest town in Cambridgeshire. The property is situated in a prominent retailing position on Market Square, close to Waitrose and Marks & Spencer Simply Food. The town’s main public car park is situated to the rear of the property.
Tenure
Freehold.
Location
Miles
15 miles west of Cambridge
57 miles north of Central London
Roads
A1, A421, A428
Rail
St Neots Rail Station
Air
Luton Airport, Stansted Airport
Situation
St Neots is an attractive, historic commuter and market town and is the largest town in Cambridgeshire. The property is situated in a prominent retailing position on Market Square, close to Waitrose and Marks & Spencer Simply Food. The town’s main public car park is situated to the rear of the property.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with ancillary accommodation at basement and first floor levels.
Six Week Completion
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact WIll Moore. Tel: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall with ancillary accommodation at basement and first floor levels.
Six Week Completion
VAT
VAT is not applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact WIll Moore. Tel: +44 (0)20 7034 4858.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
10 years from 24/06/2012 on a full repairing and insuring lease (2)
£45,550 (3)
24/06/2017 (23/06/2022)
Totals
254.27 sq m
(2,737 sq ft)
£45,550
(1) For the year ending 31st December 2013, Lloyds Bank plc reported a pre-tax profits of £894,000,000 and a total net worth of £34,109,000,000. (Source: www.riskdisk.com 10/11/2014) (2) The tenant is only required to keep the structure and exterior in good and substantial repair and condition (damage by inherent defects excepted). (3) The lease is subject to a rent free period from 25th December 2014 until 23rd June 2015. The seller will pay the buyer the rent that would have been due in the absence of the rent free period. Therefore the property will produce £45,550 p.a.x. from completion of the sale.
