243-245 High Street, Bangor, Gwynedd, LL57 1PA
Guide Price* : £1
Investment Opportunity (Redevelopment Potential)
- Four-Storey Bank Building
- 6,838 sq ft (635.3 sq m)
- Prominent Central Location on Bangor High Street
- Potential for Conversion or Redevelopment (Subject to Planning)
- Vacant Possession
- Guide Price £1
The property comprises a terraced four storey building constructed in the early 1970’s with a total net internal area of 6,838 sq ft (635.3 sq m). The property is currently let to Bank of Scotland PLC (trading as Halifax) but will be sold with Vacant Possession. The property enjoys a large frontage to Bangor High Street.
The ground floor of 1,508 sq ft (140 sq m) is set to the layout of a usual retail bank and provides ancillary accommodation with a basement of 1,068 sq ft (99.2 sq m) currently used as storage. The next three floors total 4,262 sq ft (396 sq m) are currently utilised as office accommodation and are accessed from two separate internal staircases. (For a full breakdown of the floor area, please see the table below).
The building occupies the majority of the site, but there is a service yard to the rear which also provides two parking spaces.
We consider the property to have conversion or redevelopment potential, subject to obtaining the necessary consents.
The property is located in Bangor, a university city in North West Wales, which lies on the coast near to the Menai Straits, the stretch of water which separates the Island of Anglesey from the Gwynedd Unitary Authority. Bangor has a central shopping area around the High Street and there are further retail outlets on Caernarfon Road on the outskirts of the City.
The property lies on the North side of High Street, a prime retail pitch within the City Centre. Neighbouring occupiers include a variety of national and local retailers and financial institutions.
There are good transport links, being located near to the centre of Bangor, and the train station is within ten minutes walking distance providing access to the rest of Wales and England.
The property is currently let to Bank of Scotland PLC (trading as Halifax), however the property will be sold with Vacant Possession.
The property is not elected for VAT
The property is noted to be in poor condition, and it is therefore likely that extensive works would be required before any letting could be achieved.
|Address||Accommodation||Sq M||Sq Ft|
|243-245 High Street, Bangor, LL57 1PA||Basement||99.2||1,068|
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (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.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Loading the bidding panel...
The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
Subject to Contract and Exclusive of VAT © Lambert Smith Hampton December 2023
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.