TSB
7 Market Place
Stowmarket
Suffolk
IP14 1DY

Freehold Bank Investment

  • Let to TSB Bank plc until 2027
  • Let on a renewed lease from June 2021
  • Lloyds TSB in occupation since at least 1995
  • Prime pedestrianised town centre location
  • Rear access and car parking via Church Walk
  • Neighbouring occupiers include Superdrug, Greggs, Santander, Nationwide and Holland & Barrett
  • Lot
    19
  • Auction
    21/Jul/2021
  • Rent
    £59,750 per Annum Exclusive
  • Status
    Contact Us
  • Price*
  • Sector
    Bank
  • Auction Venue
    Live Streamed Auction
  • On Behalf of Trustees
Important Update
  • TSB, 7 Market Place, Stowmarket, Suffolk, IP14 1DY
  • Expand
  • Photos
  • Map

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

Property Information

Location
Miles
12 miles north-west of Ipswich,
15 miles south-east of Bury St Edmunds,
25 miles north of Colchester
33 miles south of Norwich
Roads
A14, A134, A140, M11, A1(M)
Rail
Stowmarket Railway Station
Air
Norwich International Airport,
London Stansted Airport
Situation

The property is situated in the town's prime trading location, on the north side of the pedestrianised Market Place. Neighbouring occupiers include Superdrug, Greggs, Santander, Nationwide and Holland & Barrett.

Stowmarket is a growing town, with a new 1,000,000 sq ft business park due to be developed next to the A14 at Junction 50.

Tenure

Freehold.

Description

The property comprises a period building with ground floor Banking hall accommodation, ancillary accommodation on the first and second floors and storage accommodation in the basement. Part of the second floor is accessed via a ladder. The property benefits from rear access and car parking via Church Walk.

VAT

VAT is not applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReversion
Ground
First
Second
Basement
Banking Hall
Ancillary
Ancillary
Storage
250.90 sq m
143.30 sq m
53.90 sq m
63.50 sq m
(2,701 sq ft)
(1,542 sq ft)
(580 sq ft)
(683 sq ft)
TSB BANK PLC
(1)
6 years from
24/06/2021 on a full
repairing and
insuring lease
£59,75023/06/2027
Total Approximate
Floor Area
511.60 sq m
(5,506 sq ft) (2)
  £59,750 (3) 

(1) For the year ending 31st December 2020, TSB Bank plc reported a turnover of £1,064,000,000, a pre-tax profit of negative £200,500,000 and shareholder funds of £1,724,900,000 (Source: NorthRow 28/06/2021). Lloyds TSB has been in occupation of the property since at least 1995.
(2) The above floor areas have been published by the Valuation Office Agency at https://www.tax.service.gov.uk/business-rates-find/valuations/16079625000
(3) The rent reserved under the previous lease was £59,750 per annum exclusive.

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
    16.07.21
    File Size
    15 MB
    Login to View
  • Site Plan
    Updated Date
    01.07.21
    File Size
    866 KB
    View PDF
  • Catalogue Page
    Updated Date
    06.07.21
    File Size
    554 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

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854 +44 (0)7824 705 955billy.struth@acuitus.co.uk
Associate Auctioneers
Johnson Fellows LLP 37 Queen Anne Street
London
W1G 9JB
Mark Tindale 0207 462 5763Mark.Tindale@JohnsonFellows.co.uk
Seller's Solicitors
Harold Benjamin Solicitors Hygeia Building, 66-68 College Road
Harrow
Middlesex
HA1 1BE
020 8864 7530
Varsha Sood 020 8872 3028varsha.sood@haroldbenjamin.com

Useful Links

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