1 Commercial Street Pontypool Monmouthshire NP4 6XU

1 Commercial Street
Pontypool
Monmouthshire
NP4 6XU

Freehold Bank Investment

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
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)
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

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

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