An attractive, detached Grade II listed building, situated in the heart of the market town of Berkeley in Gloucestershire. The property the property comprises a spacious ground floor former Natwest bank (approx. 1,968 sq ft) and a residential flat on the upper floors, which has been sold off on a 125 year lease from 2014. Externally, the property benefits from a rear courtyard providing off-street parking and a detached single garage.
The former bank is currently vacant although Natwest have retained a cash machine at the property, which is let on a licence agreement producing £8,000 per annum. The ground floor offers potential for a variety of different commercial uses or residential conversion, subject to consents.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 26 May 2022 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
ATTRACTIVE GRADE II LISTED PROPERTY IN THE HEART OF BERKELEY
An attractive Grade II Listed detached property comprising of a spacious ground floor former Natwest Bank (approx. 1,968 sq ft), a residential flat on the upper floors (which has been sold off on a 125 year lease from 2014), a rear courtyard and garage to the rear. The ground floor former bank is vacant and offers potential for a variety of different commercial uses or residential conversion, subject to obtaining the necessary planning and listed building consents. A licence agreement is in place with Natwest for the retained cash machine at a passing rent of £8,000 per annum. A superb investment/development opportunity in a prominent location in Berkeley.
The property is situated in an envious position on Market Place, in the heart of the market town of Berkeley. Easy access is provided to Bristol and Gloucester via the M5 motorway.
The ground floor former bank measures approximately 1,968 sq ft and is arranged to provide a banking sales area, main banking hall, various offices, kitchen/staff room, toilet facilities and two secure strong rooms/safes.
The property is for sale on a freehold basis, subject to the long leasehold interest of the residential flat on the upper floors and associated garden that has been sold off on a 125 year lease from 2014.
RENTAL POTENTIAL -
We would anticipate a market rent of circa £20,000 per annum for the ground floor commercial premises.
CASH MACHINE LICENCE AGREEMENT -
Natwest currently have a licence agreement in place for the retained cash machine (customer access at side of building) and pay a rent of £8,000 per annum. The licence agreement has been in place since 11th April 2017 and can be terminated by either party by giving one months’ notice.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Energy Rating: C
BUYERS PREMIUM -
Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSIT -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,440 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.