A prominent and substantial building on Derby’s Market Place is set to go under the hammer this month with SDL Graham Penny with a *guide price of £650,000+.

The three storey property at 7 Market Place in Derby is the former NatWest bank premises comprises a basement, ground, first and second floor including a large former banking hall and is going under the hammer at Pride Park Stadium on Friday 24th February.

Ian Tudor, head of commercial auctions, commented: “The property has many traditional features together with associated offices, meeting rooms, storage facilities and a surfaced car park to the rear. It would be suitable for a wide variety of alternative uses including bar/restaurant or retail unit on the ground floor with office or residential accommodation on the upper floors, subject to planning permissions.”

There are 64 residential and commercial lots going under the hammer in the Derby auction on Friday 24th February at Pride Park Stadium, including another former bank premises in Clay Cross, Chesterfield with a guide price of £120,000+, a former Guest House in Castle Donington with a guide price of £190,000+ and a mixed commercial/residential three storey building and additional two storey building to the rear on Market Street in Heanor with a guide price of £90,000+.

SDL Graham Penny understands that the property is freehold. Part of the first floor and the whole of the second floor are subject to a lease for a term of five years from 2016 at a rent of £12,500pa. There is an ATM machine which will be let to National Westminster Bank PLC for a term of 5 years from the date of completion at an annual rent of £2,500pa.

Andrew Parker, auctioneer and managing director, added: “The legal pack for 7 Market Place in Derby is available online for potential buyers to download for free from the SDL Graham Penny website and any requests for proxy, telephone or internet bids can be made with our Derby office.”