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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
Description
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.
Location
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.
Tenure
Freehold
Tenancy
The property is currently let to Bank of Scotland PLC (trading as Halifax), however the property will be sold with Vacant Possession.
VAT
The property is not elected for VAT
Note
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.
Accommodation
| Address | Accommodation | Sq M | Sq Ft |
|---|---|---|---|
| 243-245 High Street, Bangor, LL57 1PA | Basement | 99.2 | 1,068 |
| Ground | 140.1 | 1,508 | |
| First | 140.6 | 1,514 | |
| Second | 115.5 | 1,244 | |
| Third | 139.9 | 1,506 | |
| Total | 635.3 | 6,838 |
Contact
* 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.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton April 2025
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