Entirely let to HSBC Bank Plc until 2023 (no breaks)
Attractive and affluent Georgian market town
Annual Rent Reviews linked to RPI rising to a minimum of £50,801.93 pa in June 2022
Nearby occupiers include Holland & Barrett, Clarks Shoes, Barclays Bank and WH Smith
VAT-free Investment
Lot 3
Auction 11th July 2018
Rent £46,024 per Annum Exclusive
Status Sold
Price £585,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the Instructions of a Charitable Foundation
Property Information
Location
Miles
14 miles north-west of Poole, 19 miles north-west of Bournemouth, 24 miles south-west of Salisbury
Roads
A31, A35, A350, A354
Rail
Poole Rail
Air
Bournemouth Airport
Situation
Blandford Forum is an affluent and attractive Georgian market town some 19 miles north-west of Bournemouth. The property is prominently situated on Market Place, adjacent to the Grade I listed Town Hall in the heart of the town centre. Nearby occupiers include Holland & Barrett, Clarks Shoes, Barclays Bank and WH Smith. Market Place benefits from parking for approximately 30 cars.
Tenure
Freehold.
Location
Miles
14 miles north-west of Poole, 19 miles north-west of Bournemouth, 24 miles south-west of Salisbury
Roads
A31, A35, A350, A354
Rail
Poole Rail
Air
Bournemouth Airport
Situation
Blandford Forum is an affluent and attractive Georgian market town some 19 miles north-west of Bournemouth. The property is prominently situated on Market Place, adjacent to the Grade I listed Town Hall in the heart of the town centre. Nearby occupiers include Holland & Barrett, Clarks Shoes, Barclays Bank and WH Smith. Market Place benefits from parking for approximately 30 cars.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with first floor ancillary accommodation. At the rear of the property is a single storey building which is currently used for storage with potential for residential development (subject to consents).
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 06/07/2018 at 12:30pm. If you would like to attend you must register with us in advance no later than midday on 04/07/2018. Please register with Georgina Roberts on georgina.roberts@acuitus.co.uk - you will need to provide the full names of all parties attending and mobile telephone numbers. Photographic ID will be required on site.
Completion Period
Six Week Completion Available
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall with first floor ancillary accommodation. At the rear of the property is a single storey building which is currently used for storage with potential for residential development (subject to consents).
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 06/07/2018 at 12:30pm. If you would like to attend you must register with us in advance no later than midday on 04/07/2018. Please register with Georgina Roberts on georgina.roberts@acuitus.co.uk - you will need to provide the full names of all parties attending and mobile telephone numbers. Photographic ID will be required on site.
Completion Period
Six Week Completion Available
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 First
Banking Hall Ancillary
168.40 sq m 79.50 sq m
(1,812 sq ft) (855 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£46,024.04
Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £47,174.64 pa 04/06/2020 £48,354.00 pa 04/06/2021 £49,562.85 pa 04/06/2022 £50,801.93 pa (2)
Outbuilding
External Storage
Not measured
Total
247.90 sq m
(2,667 sq ft)
£46,024.04
(1) For the year ending 31st December 2017, HSBC Bank plc did not report a turnover, but reported a pre-tax profit of £2.37bn, shareholders’ funds of £44.049bn and a net worth of £38.113bn (Source: Experian Group 09/05/2018). HSBC is one of the world’s largest banking and financial services organisations - further information can be found at www.hsbc.com. (2) The lease provides annual RPI linked uplifts capped and collared to a minimum of 2.5% and maximum of 5.5%. The lease provides a tenant’s option to renew the lease for a further 15 years.
NB: Not measured by Acuitus. Areas taken from the VOA at www.gov.uk
Contacts
Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn London WC2A 3TH
