Commercial Property
The property comprises an attractive and prominent three storey bank premises with vacant offices on the upper floors, of local stone construction with a slate mansard style roof.
Internally the property is divided to provide a modern bank facility, briefly comprising banking hall, cashiers area, three partitioned interview rooms and a further open plan office/interview area off the main banking hall. There is also a back office, plant room, staff room, kitchen together with male and female WCs. On the lower ground floor is the strong room.
The upper floors which are self-contained and have a separate front door access briefly comprise on the first floor eight former offices, three stores and WCs, whilst on the second floor there are two further former offices.
The property occupies a prominent corner position within the heart of Camborne Town Centre, fronting Chapel Street and being just off Commercial Square.
The property is situated within a mix of local retailers, professional offices and other commercial users. Nearby occupiers include Natwest Bank, WH Smith, Superdrug, William Hill, Subway and the Card Factory.
Camborne is located in west Cornwall and has a population of 20,845 (2011 Census), the neighbouring town of Redruth lies approximately 3 miles to the east.
We understand that the property is Freehold.
The ground floor is subject to a Lease to Barclays Bank Plc, for a term of 20 years with effect from 25th April 2007, having approximately 9 years unexpired and with a Tenant Option to break in 2022. The current rent is £28,000 per annum and there is provision for a rent review on the 25th March 2019. Further details and a copy of the Lease will be available for inspection within the legal pack.
The upper floors will be available with vacant possession upon completion.
The property benefits from conditional planning permission for conversion of offices into 4 flats, application number PA10/08623 granted by Cornwall Council, dated 15th February 2011.
We understand that by way of an Extension of Planning Permission ref: BC11/01220/DOMFPP, Building Control Services within Cornwall Council have recorded a building control date of 16th January 2014. Therefore it appears that the project started prior to the expiry date and will remain valid until completion.
All interested parties are advised to make their own enquiries of the Planning Department within Cornwall Council. Copies of all planning documentation and drawings will be available for inspection within the legal pack.
We understand that VAT is not chargeable on this transaction. All interested parties are advised to refer to the Special Conditions of Sale within the legal pack.
Strictly by arrangement with the Auctioneers.
Mark Painter
Freehold.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
