Entirely let to HSBC Bank Plc until 2023 (no breaks)
One self-contained residential flat on upper floors
Annual Rent Reviews linked to RPI rising to a minimum of £52,253.41 pa in June 2022
Located in affluent Kent town
Nearby occupiers include Pizza Express, WH Smith, Bathstore and Domino’s
VAT-free Investment
Lot 11
Auction 11th July 2018
Rent £47,339 per Annum Exclusive
Status Sold
Price £821,000
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
3 miles south west of Bromley, 4 miles east of Croydon, 12 miles south east of Central London
Roads
A232, M25 (Junction 4)
Rail
West Wickham Rail
Air
London City Airport
Situation
West Wickham is a popular Kent town some 4 miles east of Croydon in the London Borough of Bromley. The property is situated on High Street, adjacent to the Ravenswood Avenue Car Park which provides the town’s main car parking (160 spaces). Nearby occupiers include Pizza Express, WH Smith, Specsavers and Bathstore.
Tenure
Freehold.
Location
Miles
3 miles south west of Bromley, 4 miles east of Croydon, 12 miles south east of Central London
Roads
A232, M25 (Junction 4)
Rail
West Wickham Rail
Air
London City Airport
Situation
West Wickham is a popular Kent town some 4 miles east of Croydon in the London Borough of Bromley. The property is situated on High Street, adjacent to the Ravenswood Avenue Car Park which provides the town’s main car parking (160 spaces). Nearby occupiers include Pizza Express, WH Smith, Specsavers and Bathstore.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with first floor ancillary accommodation. In addition, the remaining first floor and second floor comprise a self-contained flat accessed via a dedicated external staircase at the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 05/07/2018 at 3:30pm. If you would like to attend you must register with us in advance no later than midday on 03/07/2018. 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. In addition, the remaining first floor and second floor comprise a self-contained flat accessed via a dedicated external staircase at the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 05/07/2018 at 3:30pm. If you would like to attend you must register with us in advance no later than midday on 03/07/2018. 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
179.4 sq m 26.10 sq m
(1,931 sq ft) (280 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£47,339.01
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £48,522.49 pa 04/06/2020 £49,735.55 pa 04/06/2021 £50,978.94 pa 04/06/2022 £52,253.41 pa (2)
First/ Second
Residential
Not Measured
Total Commercial Area:
205.5 sq m
(2,211 sq ft)
£47,339.01
(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. (3) The tenant is not currently in occupation of the unit.
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
