Reversionary lease signed in 2017 and rent rebased
Affluent and historic market town
Nearby occupiers include Holland & Barrett, Cote Brasserie, Waterstones and Edinburgh Woollen Mill
Lot 16
Auction 4th April 2019
Rent £135,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
25 miles north-west of Ipswich, 29 miles east of Cambridge
Roads
A14, A134, A143
Rail
Bury St Edmunds Railway Station
Air
London Stansted Airport
Situation
Bury St Edmunds is an affluent and historic market town situated off the A14, which provides access to Cambridge to the west and Ipswich to the southeast. The property is prominently situated in the heart of the town centre on the southern side of Buttermarket, where busy markets are held twice weekly. Nearby occupiers include Holland & Barrett, Côte Brasserie, Waterstones and Edinburgh Woollen Mill.
Tenure
Freehold.
Location
Miles
25 miles north-west of Ipswich, 29 miles east of Cambridge
Roads
A14, A134, A143
Rail
Bury St Edmunds Railway Station
Air
London Stansted Airport
Situation
Bury St Edmunds is an affluent and historic market town situated off the A14, which provides access to Cambridge to the west and Ipswich to the southeast. The property is prominently situated in the heart of the town centre on the southern side of Buttermarket, where busy markets are held twice weekly. Nearby occupiers include Holland & Barrett, Côte Brasserie, Waterstones and Edinburgh Woollen Mill.
Tenure
Freehold.
Description
The property, an attractive Grade II listed, four storey building, comprises a ground floor banking hall with first and second floor office accommodation and basement ancillary
VAT
VAT is not applicable to this lot.
EPC
Band D. See legal pack at acuitus.co.uk.
Description
The property, an attractive Grade II listed, four storey building, comprises a ground floor banking hall with first and second floor office accommodation and basement ancillary
15 years from 24/06/2011 (2) on a full repairing and insuring lease
£135,000
23/06/2026
Total
584.30 sq m
(6,287 sq ft)
£135,000
(1) For the year ending 31st December 2017, Lloyds Bank Plc reported pre-tax profits of £5,035,000,000 and a total net worth of £47,675,000,000 (Source: Experian 06/06/2018). (2) The current lease is for a term of 10 years expiring 23/06/2021, although, in addition, a reversionary lease is in place from 23/06/2021 until 20/03/2027. As part of the reversionary lease, the rent was re-based from £149,500 to £135,000 with no further rent reviews for the remainder of the term.
