5/7 Sherrard Street Melton Mowbray Leicestershire LE13 1XR

5/7 Sherrard Street
Melton Mowbray
Leicestershire
LE13 1XR

Freehold Bank Investment

  • Let to Lloyds Banking Group Plc until 2023 (no breaks)
  • Prosperous and Historic Market Town
  • No VAT payable
  • Prominent Town Centre Location
  • Neighbouring occupiers include Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots
  • Lot
    23
  • Auction
    22nd May 2014
  • Rent
    £60,150 per Annum Exclusive
  • Status
    Withdrawn Post
  • Price
     
  • Sector
    Bank
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Let to Lloyds Banking Group Plc until 2023 (no breaks)
  • Prosperous and Historic Market Town
  • No VAT payable
  • Prominent Town Centre Location
  • Neighbouring occupiers include Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots
  • Lot 23
  • Auction 22nd May 2014
  • Rent
  • Status Withdrawn Post
  • Price  
  • Sector
    Bank
  • Auction Venue
    The Millennium Hotel
    44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
15 miles east of Loughborough
15 miles north-east of Leicester
19 miles south-east of Nottingham
Roads
A606, A607, A46, M1 (Junction 21a)
Rail
Melton Mowbray Railway Station
Air
East Midlands Airport
Situation

The property is situated in the prosperous and historic market town of Melton
Mowbray, prominently situated on the north side of Sherrard Street close to its
junction with the pedestrianised Market Place. Neighbouring occupiers include
Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots.

Tenure

Freehold.

Location
Miles
15 miles east of Loughborough
15 miles north-east of Leicester
19 miles south-east of Nottingham
Roads
A606, A607, A46, M1 (Junction 21a)
Rail
Melton Mowbray Railway Station
Air
East Midlands Airport
Situation

The property is situated in the prosperous and historic market town of Melton
Mowbray, prominently situated on the north side of Sherrard Street close to its
junction with the pedestrianised Market Place. Neighbouring occupiers include
Superdrug, Caffe Nero, Pizza Express, WH Smith and Boots.

Tenure

Freehold.

Description

The property comprises a ground floor banking hall with ancillary accommodation in the basement and first floor. The property benefits from a substantial frontage to the busy Sherrard Street.

VAT

VAT is not applicable to this lot.

Viewings

There will only be one viewing date. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact
Will Moore. Telephone: +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 in the basement and first floor. The property benefits from a substantial frontage to the busy Sherrard Street.

VAT

VAT is not applicable to this lot.

Viewings

There will only be one viewing date. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact
Will Moore. Telephone: +44 (0)20 7034 4858.

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 Review
Basement
Ground
First
Ancillary
Banking Hall
Ancillary
24.53 sq m
290.32 sq m
25.46 sq m
(264 sq ft)
(3,125 sq ft)
(274 sq ft)
LLOYDS BANKING GROUP PLC (1)
10 years from 24/06/2013 until 2023 on a full repairing and insuring lease £60,150 (2) 24/06/2018
Totals
340.31 sq m
(3,663 sq ft)
    £60,150 (2)

(1) For the year ending 31/12/2013, Lloyds Banking Group Plc reported a working capital of £252,341,000,000, pre-tax profits of £415,000,000 and a total net worth of £34,694,000,000. (Source: www.riskdisk.com 22/04/2014)
(2)The tenant is currently paying a concessionary rent of £30,075 per annum exclusive until 28/09/2014 when the rent will increase to £60,150 per annum exclusive. The seller will pay the buyer the difference between £60,150 p.a.x. and £30,075 p.a.x. from completion of the sale until 28/09/2014. Therefore the property will produce £60,150 p.a.x. from completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    30.04.14
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    30.04.14
    File Size
    863 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Druces LLP Salisbury House, London Wall
London
EC2M 5PS
Karen Chapman 0207 216 5591k.chapman@druces.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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