Entirely let to HSBC Bank Plc until 2023 (no breaks)
Annual Rent Reviews linked to RPI rising to a minimum of £79,831.60 pa in June 2022
Historic market town close to the North Wessex Downs and Cotswolds
Nearby occupiers include Millets, Burton, Santander, Betfred and Iceland
VAT-free Investment
Lot 39
Auction 11th July 2018
Rent £72,323 per Annum Exclusive
Status Sold
Price £835,000
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
27 miles east of Bristol
14 miles north-east of Bath
Roads
A350, M4 (Junction 17)
Rail
Chippenham Railway Station
(1hr 13mins to London Paddington)
Air
Bristol Airport, Cardiff Airport
Situation
Chippenham is an affluent and historic Wiltshire market town situated between the North Wessex Downs to the east, the Cotswolds to the west and Salisbury Plain to the south. The property is prominently situated on the pedestrianised Market Place, close to its junction with High Street. Nearby occupiers include Millets, Burton, Santander, Betfred and Iceland. Adjacent to the property is the Borough Parade Car Park and an entrance to the Borough Parade Shopping Centre.
Tenure
Freehold.
Location
Miles
27 miles east of Bristol
14 miles north-east of Bath
Roads
A350, M4 (Junction 17)
Rail
Chippenham Railway Station
(1hr 13mins to London Paddington)
Air
Bristol Airport, Cardiff Airport
Situation
Chippenham is an affluent and historic Wiltshire market town situated between the North Wessex Downs to the east, the Cotswolds to the west and Salisbury Plain to the south. The property is prominently situated on the pedestrianised Market Place, close to its junction with High Street. Nearby occupiers include Millets, Burton, Santander, Betfred and Iceland. Adjacent to the property is the Borough Parade Car Park and an entrance to the Borough Parade Shopping Centre.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with first, second and third floor ancillary accommodation. The property benefits from parking for approximately two cars at the rear of the property.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 02/07/2018 at 11:30am. If you would like to attend you must register with us in advance no later than 10am on 28/06/2018. 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, second and third floor ancillary accommodation. The property benefits from parking for approximately two cars at the rear of the property.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 02/07/2018 at 11:30am. If you would like to attend you must register with us in advance no later than 10am on 28/06/2018. 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
Reversion
Ground First Second Third
Banking Hall Ancillary Ancillary Ancillary
140.78 sq m 33.2 sq m 46.2 sq m 91.1 sq m
(1,515 sq ft) (357 sq ft) (497 sq ft) (989 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£72,323.49
Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £74,131.57 pa 04/06/2020 £75,984.86 pa 04/06/2021 £77,884.49 pa 04/06/2022 £79,831.60 pa (2)
Total
311.28 sq m
(3,358 sq ft)
£72,323.49
(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
