41 Market Place Long Eaton Nottinghamshire NG10 1JL

41 Market Place
Long Eaton
Nottinghamshire
NG10 1JL

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on Market Place within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £47,898.86 pa in June 2022
Nearby occupiers include Costa Coffee, Subway, Halifax and Natwest
VAT-free Investment

Lot
60
Auction
18th October 2018
Rent
£43,394 per Annum Exclusive
Status
Sold
Price
£400,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of a Charitable Foundation

Interested?

Expand
Photos
Map

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on Market Place within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £47,898.86 pa in June 2022
Nearby occupiers include Costa Coffee, Subway, Halifax and Natwest
VAT-free Investment

Lot 60
Auction 18th October 2018
Rent £43,394 per Annum Exclusive
Status Sold
Price £400,000
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: 6.5 miles south-west of Nottingham; 10 miles east of Derby; 25 miles north of Leicester; 48 miles north-east of Birmingham
Roads: A50, A52, M1 (Junction 25)
Rail: Long Eaton Railway Station
Air: East Midlands Airport

Situation

Long Eaton is located approximately equidistant between the city of Nottingham and the city of Derby and some 8 miles north of East Midlands Airport. The property is situated on the western side of Market Place, close to its junction with the pedestrianised High Street. Nearby occupiers include Costa Coffee, Subway, Halifax and NatWest.

Tenure

Freehold.

Location

Miles: 6.5 miles south-west of Nottingham; 10 miles east of Derby; 25 miles north of Leicester; 48 miles north-east of Birmingham
Roads: A50, A52, M1 (Junction 25)
Rail: Long Eaton Railway Station
Air: East Midlands Airport

Situation

Tenure

Freehold.

Description

The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation. The property benefits from a large yard area 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 2:30pm. 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

The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation. The property benefits from a large yard area to the rear.

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second	Banking Hall Ancillary Ancillary	226.20 sq m 94.00 sq m 39.60 sq m	(2,435 sq ft) (1,012 sq ft) (426 sq ft)	HSBC BANK PLC (1)	15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease	£43,394	Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £44,478.85 pa 04/06/2020 £45,590.82 pa 04/06/2021 £46,730.59 pa 04/06/2022 £47,898.86 pa (2)
Total		359.80 sq m	(3,873 sq ft)			£43,394

(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