63 Bath Street Ilkeston Derbyshire DE7 8DD

63 Bath Street
Ilkeston
Derbyshire
DE7 8DD

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on the pedestrianised Bath Street within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £58,059.45 pa in June 2022
Nearby occupiers include Wilko, Boots, Subway and Ladbrokes
VAT-free Investment

Lot
32
Auction
18th October 2018
Rent
£52,599 per Annum Exclusive
Status
Sold
Price
£490,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of a Charitable Foundation

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Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on the pedestrianised Bath Street within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £58,059.45 pa in June 2022
Nearby occupiers include Wilko, Boots, Subway and Ladbrokes
VAT-free Investment

Lot 32
Auction 18th October 2018
Rent £52,599 per Annum Exclusive
Status Sold
Price £490,000
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: 7 miles west of Nottingham; 29 miles north of Leicester; 50 miles north-east of Birmingham
Roads: A610, A52, M1
Rail: Ilkeston Railway Station
Air: Birmingham Airport

Situation

Ilkeston is a market town some 7 miles west of Nottingham. The property is situated in a prime pitch on the western side of the pedestrianised High Street, in Ilkeston town centre. Nearby occupiers include Wilko, Boots, Subway, Ladbrokes and H Samuel.

Tenure

Freehold.

Location

Miles: 7 miles west of Nottingham; 29 miles north of Leicester; 50 miles north-east of Birmingham
Roads: A610, A52, M1
Rail: Ilkeston Railway Station
Air: Birmingham Airport

Situation

Tenure

Freehold.

Description

The property is a substantial four storey building comprising a ground floor banking hall with ancillary accommodation on part first and part second floors with additional attic accommodation accessed via a hatch, and basement accommodation. The remainder of the first floor and second floors comprise selfcontained accommodation accessed from the car park, providing a total of nine rooms, two WCs and one bathroom. There is an additional two storey extension known as ‘The Nook’, which is accessed from the rear and has been boarded up. Neither the self-contained upper parts nor the two story extension are currently in use by the tenant. The property benefits from two car parking spaces to the rear.

VAT

VAT is not applicable to this lot.

Viewings

A block viewing will be held for this property on Wednesday 10th October at 1pm. If you would like to attend you must register with us in advance, no later than midday on Monday 8th 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

VAT

VAT is not applicable to this lot.

Viewings

Completion Period

Six Week Completion Available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
63	Ground First Second Third/Attic	Banking Hall Ancillary Ancillary Ancillary	172.70 sq m 85.00 sq m 122.50 sq m 18.20 sq m	(1,859 sq ft) (915 sq ft) (1,319 sq ft) (196 sq ft)	HSBC BANK PLC (1)	15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease	£52,599	Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £53,913.98 pa 04/06/2020 £55,261.82 pa 04/06/2021 £56,643.37 pa 04/06/2022 £58,059.45 pa (2)
Uppers	First/Second	9 Rooms, 2 WCs, Bathroom	Not measured
The Nook	Ground/First		Not measured
Total			273.20 sq m	(2,941 sq ft)			£52,599

(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