Rent increased from £55,000 p.a.x. at July 2016 rent review and from £51,000 p.a.x. at 2011 lease renewal
Includes two substantial self-contained two bedroom residential flats
Historic and highly affluent market town – popular with tourists
Future asset management opportunities
Lot 6
Auction 28th March 2018
Rent £66,600 per Annum Exclusive
Status Sold
Price £1,195,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles east of Yeovil, 25 miles north of Weymouth, 35 miles north-west of Poole and Bournemouth
Roads
A37, A359, A303
Rail
Sherborne Railway Station
Air
Bournemouth Airport
Situation
Sherborne is a historic, attractive and highly affluent Dorset market town, popular with tourists and famous for its medieval buildings, Abbey and public schools. The property is situated on the east side of Cheap Street, the town’s principal retailing thoroughfare and nearby occupiers include Fat Face, Joules, WH Smith, Crew Clothing, The Edinburgh Woollen Mill, Boots, Orvis, Waitrose and a number of independent boutique retailers.
Tenure
Freehold.
Location
Miles
5 miles east of Yeovil, 25 miles north of Weymouth, 35 miles north-west of Poole and Bournemouth
Roads
A37, A359, A303
Rail
Sherborne Railway Station
Air
Bournemouth Airport
Situation
Sherborne is a historic, attractive and highly affluent Dorset market town, popular with tourists and famous for its medieval buildings, Abbey and public schools. The property is situated on the east side of Cheap Street, the town’s principal retailing thoroughfare and nearby occupiers include Fat Face, Joules, WH Smith, Crew Clothing, The Edinburgh Woollen Mill, Boots, Orvis, Waitrose and a number of independent boutique retailers.
Tenure
Freehold.
Description
The property, an attractive Grade II Listed building, comprises ground floor banking and ancillary accommodation with two substantial self-contained two bedroom residential flats on the first and second floors. The property has a substantial courtyard/garden to the rear where there are additional outbuildings. The flats are well proportioned and benefit from period features including high ceilings and have an attractive outlook onto Cheap Street and the garden/courtyard to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive Grade II Listed building, comprises ground floor banking and ancillary accommodation with two substantial self-contained two bedroom residential flats on the first and second floors. The property has a substantial courtyard/garden to the rear where there are additional outbuildings. The flats are well proportioned and benefit from period features including high ceilings and have an attractive outlook onto Cheap Street and the garden/courtyard to the rear.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Reversion
Ground
First Second
Banking Hall/Ancillary Two bedroom flat Two bedroom flat
210.70 sq m
95.00 sq m 95.00 sq m
(2,268 sq ft)
(1,023 sq ft) (3) (1,023 sq ft) (3)
LLOYDS BANK PLC (1) (2)
10 years from 25/07/2011 on a full repairing and insuring lease
£66,000
25/07/2021
Total
400.70 sq m
(4,314 sq ft) (3)
£66,000
(1) For the year ending 31st December 2016, Lloyds Bank plc reported pre-tax profits of £1,977,000,000 and a total net worth of £49,326,000,000 (Source: Experian Group 01/03/2018). (2) The tenant has sublet the residential first and second floor flats. (3) The approximate residential floor areas stated are on a gross internal basis (GIA).
