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Status Withdrawn Post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
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.
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
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.
