9 Market Jew Street Penzance Cornwall TR18 2TW

9 Market Jew Street
Penzance
Cornwall
TR18 2TW

Freehold Bank and Office Investment

On behalf of Peter Welborn and Nigel Nattress ? Joint LPA Receivers Majority let to Barclays Bank plc until 2027 (subject to option)
Potential residential development with sea views, of part first and second floors (subject to consents)
Prime retail location, nearby occupiers include Boots the Chemist and Santander Bank

Lot
21
Auction
27th May 2010
Rent
£75,000 per Annum
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

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Freehold Bank and Office Investment

On behalf of Peter Welborn and Nigel Nattress ? Joint LPA Receivers Majority let to Barclays Bank plc until 2027 (subject to option)
Potential residential development with sea views, of part first and second floors (subject to consents)
Prime retail location, nearby occupiers include Boots the Chemist and Santander Bank

Lot 21
Auction 27th May 2010
Rent £75,000 per Annum
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
Mayfair
London W1K 2HP

Property Information

Location

Estimated District Population: 21,200
Miles: ?18 miles west of Redruth; 25 miles south-west of Truro
Roads: A30, M5
Rail: Penzance Rail
Air: Bristol International Airport

Situation

The property is situated in a strong position on the busy Market Jew Street in the heart of the town's retailing area. Nearby occupiers include Santander Bank and Boots the Chemist.

Tenure

Freehold.

Location

Estimated District Population: 21,200
Miles: ?18 miles west of Redruth; 25 miles south-west of Truro
Roads: A30, M5
Rail: Penzance Rail
Air: Bristol International Airport

Situation

The property is situated in a strong position on the busy Market Jew Street in the heart of the town's retailing area. Nearby occupiers include Santander Bank and Boots the Chemist.

Tenure

Freehold.

Description

The property comprises a GROUND FLOOR BANKING HALL, BASEMENT STORAGE and PART FIRST FLOOR OFFICES. In addition there are SELF-CONTAINED OFFICES on part first and the second floors, accessed via Bread Street which could be converted into flats (subject to consent). Planning Part of the first floor and whole second floor may be suitable for residential conversion (subject to consents). Further planning enquiries should be made to Cornwall District Council.Telephone: +44 (0)300 1234 151. Website: http://www.cornwall.gov.uk VATVAT is not applicable to this lot. NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Basement Ground Ground Mezzanine First	Storage Banking Store Store Offices	138.94 sq m 285.78 sq m 9.59 sq m 2.79 sq m 132.18 sq m	(1,495 sq ft) (3,076 sq ft) (103 sq ft) (30 sq ft) (1,423 sq ft)	BARCLAYS BANK PLC	20 years from 21/03/2007 until 21/03/2027 on a full repairing and insuring lease (2)(3)	£75,000	29/09/2013 and 5 yearly
Part First Second	Vacant Vacant	153.60 sq m 285.78 sq m	(1,653 sq ft) (3,076 sq ft)	FULL VACANT POSSESSION
Totals		1,008.66 sq m	(10,856 sq ft)

(1)?For the year ending 31st December 2008 Barclays Bank plc reported a turnover of ?40,983,000,000, pre-tax profits of ?6,035,000,000 and a net worth of ?30,800,000,000. (Source: riskdisk.com 16/04/2010). (2)?The lease provides for a tenant option to determine the lease on the 15th anniversary of the term. (3)?The lease is subject to a schedule of condition.