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Floorplan
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    Key features

    • To be offered on Wednesday 23 July
    • Freehold Bank Investment
    • Let to Lloyds TSB Bank Plc on a 5 year lease expiring March 2027
    • Low capital value per square ft on guide price (£41.77 psf)
    • Asset management potential at the end of the lease
    • Significant dilapidations potential - tenant in occupation for nearly 25 years
    • VAT-Free Investment
    • Investment let at £26,000 pa (11.81% on Guide Price)

    Description

    This Grade II Listed property is arranged on basement, ground and two upper floors, to provide a ground floor banking hall with basement plant room and staff ancillary office and storage accommodation on the first floor above. The second floor is not presently used.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor/EPC and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. 


    Ground - 243.85 sq m (2,625 sq ft)

    First - 169.70 sq m (1,827 sq ft)

    Second - 75.70 sq m (815 sq ft)


    Total - 489.25 sq m (5,267 sq ft)

    Tenancy

    Let to Lloyds TSB Bank Plc on a 5 year lease from 10.03.2022 expiring 09.03.2027 at a rent of £26,000 pa.

    The tenant did not exercise their break option in March 2025, though the tenant has confirmed that they will be vacant the premises at the end of the term.

    Rent

    £26,000 pa
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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      Sleaford is an attractive market town with a population of some 14,500 and is served by the A17 and A15 trunk roads, some 19 miles west of Boston and 34 miles north of Peterborough.

      The property, which is located in a Conservation Area, is situated on the east side of Northgate, close to the junction with Market Place. There is an open market and public car park to the rear.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums