Lloyds Bank
75 Cheap Street
Sherborne
Dorset
DT9 3BD

Freehold Bank and Residential Investment

  • Entirely let to Lloyds Bank plc
  • Tenant in occupation since at least 2001
  • 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
    28/Mar/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
Important Property Update
  • Lloyds Bank<br>75 Cheap Street<br>Sherborne<br>Dorset<br>DT9 3BD
  • Expand
  • Photos
  • Map

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.

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

Bidder's Legal Report

For the ease and convenience of prospective buyers,to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is advisable. For more information, please click here.

Tenancy & Accomodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReversion
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
£66,00025/07/2021
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).

Property Documents

  • Site Plan
    Updated Date
    06.03.18
    File Size
    4 MB
    View PDF
  • Catalogue Page
    Updated Date
    06.03.18
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Will MooreWill Moore +44 (0)20 7034 4858 +44 (0)7899 877 224will.moore@acuitus.co.uk
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
Seller's Solicitors
Clarke Willmott LLP Blackbrook Gate, Blackbrook Park Avenue
Taunton
TA1 2PG
Sarah Manley 0345 209 1690sarah.manley@clarkewillmott.com

Useful Links

By clicking the Submit button I confirm that I would like to register my interest in this Property. Please email me updates when they are published.

If you have a query, please fill in the box below, otherwise click the Submit button.

You have 200 character(s) left.

Are you sure you want to remove this property from My Catalogue?

Are you sure you are no longer interested in this property?

Making the buying and selling of property a seamless experience
Everything you need to know whether you are a buyer or sellerHelp Centre
How can Acuitus Finance help you with bridging finance
How can Acuitus Finance help you with bridging financeObtain bridging finance now