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
    16/Jun/2021
  • Rent
    £39,300 per Annum Exclusive
  • Status
    Available
  • Price*
    £525,000 - £535,000
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • On Instructions of a Major Property Company
Important Update
  • 5 Market Place<br>Wells<br>Somerset<br>BA5 2RF
  • Expand
  • Photos
  • Map

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

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.

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

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview/
(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
£10,000Holding 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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    11.06.21
    File Size
    23 MB
    Login to View
  • Catalogue Page
    Updated Date
    27.05.21
    File Size
    808 KB
    View PDF
  • Site Plan
    Updated Date
    27.05.21
    File Size
    867 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
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Addleshaw Goddard LLP
Alasdair Jones 0161 934 6315alasdair.jones@addleshawgoddard.com

Useful Links

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