£550,000

Bondgate Within, Alnwick

Bank Premises For Sale

Key Features

> • Prestigious bank building
> • Busy town centre location
> • Total size of 660.00 m² (7,104 ft²)
> • Income producing but potential for vacant possession
> • EPC Rating – C 67 an updated EPC is to be provided

Description

LOCATION
Highly prominent prestigious building situated on Bondgate Within, Alnwick. Alnwick is an affluent market town in Northumberland and is a popular tourist destination with attractions such as the Alnwick Castle and Alnwick Gardens on the doorstep whilst Lilidorei the worlds largest childrens play park has recently opened and will attract further visitors to the town in 2023.

Bondgate Within is a popular shopping street in Alnwick with a number of local and national operators which includes Greggs, M&Co, Yorkshire Trading Company, Boots, Halifax and Hardy Fishing Store. The main public car parking spaces within the town are located to the rear of Bondgate Within

DESCRIPTION
The property is one of the most attractive buildings positioned in Alnwick town centre with ornate stone elevations to the front. The building built specifically as a banking premises provides potential for a number of uses subject to planning permission.

The property us arranged to provide banking hall on the ground floor, offices to the upper floors and basement storage.

ACCOMMODATION
We calculate the approximate net internal floor areas to be as follows:

Ground Floor 246.00 m² 2,648 ft²
First Floor 189.00 m² 2,034 ft²
Second Floor 189.00 m² 2,034 ft²
Basement Floor 36.00 m² 388 ft²
Total 660.00m² 7,104 ft²

Lease Details
The property is currently let as a whole to Lloyds Bank Plc on a 5 year FRI lease from 25 December 2022. The lease will expire on 24 December 2027. The passing rent is £35,000 per annum. Lloyds sublet part of the upper floors to Warcup Law Firm on a contracted out lease at a rent of £7,950 per annum. Lloyds have confirmed their intention to vacate the property from January 2025 providing the opportunity to agree surrender agreement for those looking for vacant possession.

EPC RATING
A new EPC rating is to be undertaken. The expired rating was C – 67.

RATING ASSESSMENT
The rateable value of the premises as at 1 April 2023 is £30,850 and the estimated rates payable for the current year is £15,394.15 This is based on the standard Small Business Rate of 49.9p in the pound, however, interested parties should confirm the current position with the Local Authority.