Entirely let to HSBC Bank Plc until 2023 (no breaks)
Attractive corner building located within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £29,029.18 pa in June 2022
Nearby occupiers include Boots, Greggs, Specsavers and Wilko
VAT-free Investment
Lot 83
Auction 18th October 2018
Rent £26,299 per Annum Exclusive
Status Sold
Price £250,000
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
9 miles north of Newport
20 miles north-east of Cardiff
Roads
A4042, A40, A449, M4 (Junction 25A & 26)
Rail
Pontypool & New Inn Railway Station
Air
Cardiff International Airport
Situation
Pontypool is well located off the A4042 dual carriageway, which provides access to Junction 25A of the M4 to the south. In turn, the M4 provides access to Cardiff to the west and Bristol and London to the east. The property is situated in the town centre, on the northern side of the pedestrianised Commercial Street where it meets George Street. Nearby occupiers include Boots, Greggs, Specsavers and Wilko.
Tenure
Freehold.
Location
Miles
9 miles north of Newport
20 miles north-east of Cardiff
Roads
A4042, A40, A449, M4 (Junction 25A & 26)
Rail
Pontypool & New Inn Railway Station
Air
Cardiff International Airport
Situation
Pontypool is well located off the A4042 dual carriageway, which provides access to Junction 25A of the M4 to the south. In turn, the M4 provides access to Cardiff to the west and Bristol and London to the east. The property is situated in the town centre, on the northern side of the pedestrianised Commercial Street where it meets George Street. Nearby occupiers include Boots, Greggs, Specsavers and Wilko.
Tenure
Freehold.
Description
The property is a three storey corner building comprising a ground floor banking hall and basement and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Friday 12th October at 9:30am. If you would like to attend you must register with us in advance no later 9am on Wednesday 10th 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 corner building comprising a ground floor banking hall and basement and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Friday 12th October at 9:30am. If you would like to attend you must register with us in advance no later 9am on Wednesday 10th 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 Basement First
Banking Hall Ancillary Ancillary
122.20 sq m 67.00 sq m 39.00 sq m
(1,315 sq ft) (721 sq ft) (420 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£26,299
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £26,956.48 pa 04/06/2020 £27,630.39 pa 04/06/2021 £28,321.15 pa 04/06/2022 £29,029.18 pa (2)
Total
228.20 sq m
(2,456 sq ft)
£26,299
(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
