6 February 2024: Tuesday 06 February 2024 - 9:00am
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Floorplan
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    Key features

    • HOTs agreed to Caffé Nero on a new 10 year lease at £42,500 p.a. (£17.39 psf) for the terrace, ground floor and basement ONLY
    • Development potential to create multiple dwellings in the existing upper floors (subject to the requisite consents)
    • Possible further development potential to add an additional storey to the existing building (subject to the requisite consents)
    • Incoming purchaser can decide not to complete the lease with Café Nero and look to carry out a wider residential led development of the site (subject to the requisite consents)
    • Proposed plans have been created showing the potential for 7 dwellings on site
    • Located in an affluent and prosperous town
    • An approx. 4,845 sq ft (low capital value of £138 per sq ft excluding the basement & £122.80 per sq ft including the basement based on the guide)
    • No VAT

    Description

    The property is an end of terrace property comprising of a former banking hall to the front and a 2 storey property to the rear that was used as ancillary office space to the former bank.

    The property has further asset and development potential to be a mixed used premise at ground floor and residential dwelling at first floor and/or a smaller commercial premise to the front and residential dwellings on part ground and first floor (subject to the requisite consents)

    Nearby occupiers include M&S Food Hall, WHSmith, Specsavers, Boots, Post Office as well as wide range of independent and boutique retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to Accommodation and Tenancy schedule

    Tenancy

    Please refer to Accommodation and Tenancy schedule

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

    A set of HOT's have been agreed with a new tenant Nero Holdings Limited (t/a Café Nero) for the terrace, Ground floor (separating the access to the first floors through the side door) and Basement; however this does not constitute as a confirmed lease for the premise and any incoming purchaser must do there own due diligence.

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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.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      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.

      Accommodation / Tenancy Schedule

      Local information

      The property is located on the north side of High Street and at the junction between the High Street and Bloggs Way.


      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