Stowmarket is a busy market town located within central Suffolk, on the A14 between Ipswich (11 miles to the south east) and Bury St Edmunds (15 miles to the north west). There is a direct train service to London (Liverpool Street), the station being within a short walking distance.
The property is located on Market Place, within the heart of the town centre and on one of Stowmarket's main shopping streets. Nearby occupiers include Santander, Coral, Peacocks and Subway.
Description
The property comprises an attractive mid-terrace building arranged over basement, ground, first and second floors, formerly occupied by Barclays Bank. The front elevation is of brick and ashlar construction with an entrance providing level access.
The former banking hall provides a spacious sales area, with three partitioned offices to the rear. The upper floors provide ancillary office, meeting, training and store rooms, as well as WC and kitchen facilities.
The former banking hall includes suspended ceilings incorporating fluorescent lighting, air-conditioning and part vinyl and carpet floor coverings.
Accommodation
The premises provide the following approximate net internal floor areas:
Ground Floor: 1,931 sq ft ( 179.39 sq m)
First Floor: 606 sq ft ( 56.30 sq m)
Second Floor: 894 sq ft ( 83.05 sq m)
Basement: 512 sq ft ( 47.57 sq m)
Total Net Internal Floor Area: 3,943 sq ft ( 366.31 sq m)
Services
We understand that the premises are connected to mains gas, electricity, water and drainage.
We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capability of all those serving the property, including IT and telecommunication links.
Planning
The property has previously been used as a bank premises within Class E(c)(i) (financial services) of the Town and Country Planning (Use Classes) Order 1987 (as amended).
Class E allows for a variety of alternative uses including retail, restaurant, sports and recreation, medical and health services, creche and day nursery, offices and research and development, all of which may suit the premises.
Business Rates
The premises are currently assessed as follows:
Rateable Value: £37,000
Rates Payable (2022/23): £18,463 per annum
The rates payable are based on the current UBR of £0.499. Small business rate relief may be available providing 100% exemption. All interested parties should make their own enquiries with Ipswich Borough Council to verify their rates liability.
Local Authority
Babergh and Mid Suffolk District Council
Endeavour House
8 Russell Road
Ipswich
IP1 2BX
Tel: 0300 1234000
Terms
Offers are invited in the region of £375,000 for the freehold interest with vacant possession upon completion.
The premises are available on a new business lease upon terms to be agreed, at an initial rent of £31,500 per annum exclusive.
Legal Costs
Each party is to be responsible for their own costs.
( Agency Pilot Software ref: 14869928 )
