129 High Street, Needham Market, IP6 8DH

LOCATION

Needham Market lies adjacent to the A14 corridor, 9 miles to the northwest of Ipswich and 20 miles to the southeast of Bury St Edmunds.

The property is a former Barclays Bank located in a prominent position to the northern end of the High Street on the junction with Barrett’s Lane and adjoining the former offices of Mid Suffolk District Council.

 

ACCOMMODATION

The property is a former house, which was converted to commercial use some time ago.  The former bank premises at ground floor are vacant and provide largely open plan space with the following areas:-

Former banking hall1,529 sq ft142.0 sq m
Office212 sq ft19.6 sq m
Ancillary (inc vaults)758 sq ft70.4 sq m
TOTAL2,499 sq ft232.0 sq m

 

The first and second floors provide self-contained offices, accessed from Barrett’s Lane with the following areas:-

First Floor        – Offices1,635 sq ft151.8 sq m

Second Floor – Attic

There are 9 car spaces in the rear yard.

 

TENANCY

The first and second floors are let to Andrew Isles & Anthony Storer for a term expiring 11 October 2026, on effectively full repairing and insuring terms, at a rent of £8,500 pax, subject to rent review on 11 October 2021.

 

PLANNING

The property is Grade II listed and has an established Class E use.

 

REDEVELOPMENT POTENTIAL

The property may have potential for a return to residential use.

The rear car park may have potential for the construction of residential accommodation.

Interested parties are advised to make their own enquiries of the Local Planning Authority to establish what planning consents may be required.

 

RATEABLE VALUE

We understand from the Valuation Office Agency website that the property has a rateable value of £17,250 for the ground floor, and £10,750 for the first and second floors, with effect from 1 April 2017.  Interested parties are advised to make their own enquiries.

 

ENERGY PERFORMANCE CERTIFICATE

Ground FloorD
First and Second FloorsE

Further details are available upon request.

 

PROPOSAL

Our clients are offering for sale the freehold of the property, with vacant possession of the ground floor and subject to the existing lease of the first and second floors. Offers are sought in excess of £300,000.

 

LEGAL COSTS

Each party to be responsible for their own legal costs incurred in the transaction.

 

 

 

Plans

 

Francis Darrah for themselves and as Agents for the proposed Vendor(s) or Lessor(s) give notice: 1. That they do not make or give either in these particulars or in negotiations or otherwise any warranty or representation whatever in relation to the property. 2. Any plan attached to these particulars is for identification purposes only and all measurements are given as a guide and no liability can be accepted for errors arising therefrom. 3. The property being open to inspection any intended purchaser must satisfy himself as to the accuracy of these particulars and he will be deemed to have full knowledge thereof. 4. No liability can be accepted for any misstatement, omission or errors in these particulars. 5. These particulars do not constitute an offer or Contract or any part thereof.

 

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