Entirely let to HSBC Bank Plc until 2023 (no breaks)
Future development potential (subject to consents)
Annual Rent Reviews linked to RPI rising to a minimum of £21,772.71 pa in June 2022
Nearby occupiers include a Co-operative supermarket, Connells Estate Agents and Barclays Bank
VAT-free Investment
Lot 21
Auction 18th October 2018
Rent £19,725 per Annum Exclusive
Status Sold
Price £406,000
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
4 miles north-west of Bristol, 15 miles north-west of Bath
Roads
A4162, A4, A38, M49, M5, M32
Rail
Sea Mills Rail
Air
Bristol International Airport
Situation
Westbury on Trym is a suburb of the city of Bristol, some 4 miles north of the city centre. The property is located within the town centre on the northern side of Canford Lane. Nearby occupiers include a Co-operative supermarket, Connells Estate Agents, Barclays Bank and a number of independent retailers.
Tenure
Freehold.
Location
Miles
4 miles north-west of Bristol, 15 miles north-west of Bath
Roads
A4162, A4, A38, M49, M5, M32
Rail
Sea Mills Rail
Air
Bristol International Airport
Situation
Westbury on Trym is a suburb of the city of Bristol, some 4 miles north of the city centre. The property is located within the town centre on the northern side of Canford Lane. Nearby occupiers include a Co-operative supermarket, Connells Estate Agents, Barclays Bank and a number of independent retailers.
Tenure
Freehold.
Description
The property is a single storey building comprising banking hall and ancillary accommodation. The property benefits from future development potential (subject to consents).
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Tuesday 9th October at 2pm. If you would like to attend you must register with us in advance no later than midday on Friday 5th October. 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 is a single storey building comprising banking hall and ancillary accommodation. The property benefits from future development potential (subject to consents).
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Tuesday 9th October at 2pm. If you would like to attend you must register with us in advance no later than midday on Friday 5th October. 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
Banking Hall/ Ancillary
228.94 sq m
(2,464 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£19,725
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £20,218.13 pa 04/06/2020 £20,723.58 pa 04/06/2021 £21,241.67 pa 04/06/2022 £21,772.71 pa (2)
Total
228.94 sq m
(2,464 sq ft)
£19,725
(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 10/08/2018). HSBC is one 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.voa.gov.uk
Contacts
Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn London WC2A 3TH
