Bank building in centre of Woodbridge set for auction

8 Thoroughfare in Woodbridge is going to auction later this month with a guide price of £975,000

8 Thoroughfare in Woodbridge is going to auction later this month with a guide price of £975,000 - Credit: Google Maps

A landmark building in the centre of Woodbridge is being sold at auction later this month.

The property, at 8 Thoroughfare in the Suffolk town, is currently occupied by Lloyds Bank and has a guide price of £975,000.

The bank has a lease on the building which runs until 2026. 

The building contains a ground floor banking hall with first floor offices and further workspace in the basement and second floor.

8 Thoroughfare is on the popular Thoroughfare street in the town centre alongside plenty of local businesses.

8 Thoroughfare is on the popular Thoroughfare street in the town centre alongside plenty of local businesses and high street retailers. - Credit: Google Maps

There is also a dedicated private car park to the rear with space for nine cars.

David Margolis, of Acuitus auctions, said: “This is a very handsome property in the heart of Woodbridge. Assets let to banks remain popular with investors and this building could have longer-term alternative uses”.

It comes at a time when other banks in Woodbridge are set to close, with the HSBC branch shutting in August.

The auction will take place on March 31 at 1pm.