Let to HSBC Bank plc until 2021 (subject to option)
Prominent corner location in busy pedestrianised thoroughfare
Nearby occupiers include Marks & Spencer, Derbyshire Building Society, Co-Operative Travel and McDonald's
Continuously let as a bank for over 80 years
Six week completion available
Lot 30
Auction 22nd February 2011
Rent £74,200 per Annum Exclusive
Status Sold Prior
Price
Sector Bank
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Estimated District Population
68,000
Miles
17 miles north of Nottingham
11 miles south-east of Chesterfield
Roads
M1, A38, A617, A60
Rail
Mansfield Rail
Air
Nottingham Airport
Situation
The property is situated in a prominent corner position on Market Place, at the junction with Leeming Street, in an established retail area in the heart of Mansfield town centre. The property is situated within the Market Place Conservation Area and within the town's main banking pitch. Nearby occupiers include Derbyshire Building Society, Marks & Spencer, Co-Operative Travel and McDonald's.
Tenure
Freehold.
Location
Estimated District Population
68,000
Miles
17 miles north of Nottingham
11 miles south-east of Chesterfield
Roads
M1, A38, A617, A60
Rail
Mansfield Rail
Air
Nottingham Airport
Situation
The property is situated in a prominent corner position on Market Place, at the junction with Leeming Street, in an established retail area in the heart of Mansfield town centre. The property is situated within the Market Place Conservation Area and within the town's main banking pitch. Nearby occupiers include Derbyshire Building Society, Marks & Spencer, Co-Operative Travel and McDonald's.
Tenure
Freehold.
Description
The property, an attractive and historic building, comprises a GROUND FLOOR BANKING HALL with BASEMENT STORAGE and OFFICE ACCOMMODATION on the first and second floors. Part of the first and second floors benefit from self-contained access via Market Place. The property has been continuously let as a bank for over 80 years and was previously let to Midland Bank.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property, an attractive and historic building, comprises a GROUND FLOOR BANKING HALL with BASEMENT STORAGE and OFFICE ACCOMMODATION on the first and second floors. Part of the first and second floors benefit from self-contained access via Market Place. The property has been continuously let as a bank for over 80 years and was previously let to Midland Bank.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground Ground Basement First Second
Banking Hall Office Ancillary Office Office
209.20 sq m 67.90 sq m 145.00 sq m 189.90 sq m 208.10 sq m
15 years from 12/10/2006 on a full repairing and insuring lease (2)(3)(4)
£74,200
12/10/2011 and 2016
Totals
820.10 sq m
(8,828 sq ft)
£74,200
(1) For the year ending 31st December 2009, HSBC Bank plc reported a turnover of £25,137,000,000, a pre-tax profit of £4,014,000,000 and a total net worth of £16,588,000,000. (Source: www.hsbc.co.uk 16/01/2009) (2) The lease provides for a tenant’s option to determine the lease on 12th October 2016. (3) The tenant has sub-let part of the first and second floors on two separate leases. (4) The tenant has an option to renew the lease for a further 15 years at the end of the term.
