5 Market Place Wells Somerset BA5 2RF

5 Market Place
Wells
Somerset
BA5 2RF

Attractive Freehold Bank Investment on a New 5 year lease & Office Investment

Majority let to Santander UK Plc
New 5 year lease (NO Breaks)
Lease renewal from 25th December 2020
VAT-free Investment
Future alternative use potential of the upper floors
Part let to Solicitors

Lot
16
Auction
16th June 2021
Rent
£39,300 per Annum Exclusive
Status
Archive
Price
Auction Venue
Live Streamed Auction
On Instructions of a Major Property Company

Important Update Interested?

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Attractive Freehold Bank Investment on a New 5 year lease & Office Investment

Majority let to Santander UK Plc
New 5 year lease (NO Breaks)
Lease renewal from 25th December 2020
VAT-free Investment
Future alternative use potential of the upper floors
Part let to Solicitors

Lot 16
Auction 16th June 2021
Rent £39,300 per Annum Exclusive
Status Archive
Price
Sector
Bank
Auction Venue
Live Streamed Auction
On Instructions of a Major Property Company

Property Information

Location

Miles: 19 miles south-west of Bath; 20 miles south of Bristol
Roads: A4, A39, A46, A361, M4
Rail: Castle Cary
Air: Bristol Airport

Situation

Wells is a popular and historic cathedral city located immediately south of the Mendip Hills, an area of outstanding natural beauty and home to the Cheddar Gorge - a popular tourist destination. The property is well located on the northern side of Market Place, at its junction with Sadler Street in the heart of Wells city centre. Nearby occupiers include Barclays, HSBC, Natwest, Boots the Chemist, Costa Coffee and variety of specialist traders.

Tenure

Freehold.

Location

Miles: 19 miles south-west of Bath; 20 miles south of Bristol
Roads: A4, A39, A46, A361, M4
Rail: Castle Cary
Air: Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor bank with ancillary accommodation on the first and second floors. Part of the ground floor rear is used as an office by Chubb Bulleid Solicitors.

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.mendip.gov.uk

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Description

The property comprises a ground floor bank with ancillary accommodation on the first and second floors. Part of the ground floor rear is used as an office by Chubb Bulleid Solicitors.

VAT

VAT is not applicable to this lot.

Planning

The property may benefit from future redevelopment for a variety of uses, subject to all necessary consents/permissions and current tenancy. Interested Parties are referred to www.mendip.gov.uk

Completion Period

Six Week Completion

EPC

See legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
Ground Front First Second Attic Basement	Banking Ancillary Ancillary	46.20 sq m 45.00 sq m 46.00 sq m	(497 sq ft) (484 sq ft) (495 sq ft)	SANTANDER UK PLC (1)	5 years from 25/12/2020	£29,300	(24/12/2025)
Ground Floor Rear Lower Ground First Second	Office Storage Office Office	23.00 sq m 3.00 sq m 36.00 sq m 31.00 sq m	(247 sq ft) (32 sq ft) (388 sq ft) (334 sq ft)	CHUBB BULLEID LTD t/a Chubb Bulleid Solicitors	12 years from 01/04/2009	£10,000	Holding Over
	Sub Total	93.00 sq m	(1,001 sq ft)

(1) For the year ending 31st December 2019, Santander UK PLC reported a turnover of £7,224,000,000, a pre-tax profit of £1,012,000,000 and shareholders funds of £15,857,000,000 (Source: NorthRow 19/01/2021).
(2) Chubb Bulleid Solicitors are based in the centre of Wells, Street and Somerton in the county of Somerset. (www.chubb-bulleid.co.uk)

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.