An excellent opportunity to purchase an investment block of property, currently partly let to Lloyds Bank, and to a Fish Shop, with a gross rental return in the order of £12,700 per annum.
11, 11A and 12A are all let on a lease to Lloyds Bank, having an approximate three years left until expiry, at a rental of £7,500 per annum. Lloyds Banking Group have been in occupation of the property for a significant amount of time, and we have received no indication that on the expiry of their current lease they would wish to vacate.
See Legal Pack
11 Church Street
11 Church Street comprises of the ground floor of the bank, having entrance hall, interview rooms 2&3, lobby, and stairs leading through to the first floor (11A).
11A Church Street
A flight of stairs leads from 11 Church Street upto 11A Church Street, and comprises of the boiler room, kitchen, staff room, and tech room. We understand from the vendor that this was formally a self contained flat, which had its own access off Church Street, which has since been boarded up by Lloyds Bank.
12A Church Street
12A Church Street comprises the first floor above 12 Church Street, and is additional accommodation which is leased to Lloyds Banking Group, comprising female WC, store, further WC, and meeting room. Again, we understand from the vendor that this was also a self contained flat.
12 Church Street
12 Church Street is let to Fish Inc LTD, on a five year lease from the 14th June 2017 at £100 per week (£5,200 per annum). The property comprises of an entrance, store room, WC, kitchen, together with further building to the rear.
It is believed that on lease renewal for Lloyds Bank that the rent increase to the open market value, in the order of £12,000 - £13,000, thus with the additional income from Fish Inc LTD, it gives the property a future rental income in the order of £17,000 - £18,000.
Energy Efficiency Rating (EPC)
Current Rating - Please contact Auction House Copelands - 01246 232698 - firstname.lastname@example.org
Chesterfield Borough Council
BRM Law, Gray Court, 99 Saltergate, Chesterfield, S40 1LD, Ref: Sanjeev Batra, Tel: 01246 555111
Buyer's Premium - 1.5% plus vat (1.8% inc VAT) of the purchase price, subject to a minimum of £1495 plus vat (£1794 inc VAT), payable on completion.
Administration Charge - £750 inc VAT payable on exchange of contracts.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.