Old Barclays Bank building fails to sell at auction

A large building on the High Street narrowly failed to sell on auction yesterday.

38-41 High Street in town is the former Barclays Bank building, and was listed with a guide price of over £500,000 .

The auction opened with a £400,000 bid, with a prompt flurry of five more offers, topping out at £470,000. With no more bids the lot was passed as it did not reach the apparent reserve.

Auctioneers noted: “Three storey commercial premises part let to Barclays Bank PLC with a rent of £58,750 per annum by way of a 20 year lease dated 2nd August 2006.”

Barclays Bank PLC are no longer in active occupation of the property. The ground floor of 38-39 is not subject to a lease and is vacant.

The 6,814 square foot four floor building includes a 216 square foot basement, believed to be the old vaults of the bank.

The auction was held yesterday at the AJ Bell Stadium in Manchester.