Entirely let to HSBC Bank Plc until 2023 (no breaks)
Substantial building fronting Market Place
Annual Rent Reviews linked to RPI rising to a minimum of £19,594.89 pa in June 2022
Nearby occupiers include Boots, Betfred, Vision Express and William Hill
VAT-free Investment
Lot 89
Auction 18th October 2018
Rent £17,752 per Annum Exclusive
Status Sold
Price £225,000
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
0.5 miles to Uttoxeter Racecourse, 14 miles north-east of Stafford, 32 miles north of Birmingham
Roads
A518, A50, A515, M6 (Junction 14)
Rail
Uttoxeter Railway Station
Air
Birmingham International Airport, East Midlands Airport
Situation
Uttoxeter is an attractive market town popular for its racecourse. The property is prominently situated in the heart of the town centre, on the southern side of Market Place. Nearby occupiers include Boots, Betfred, Vision Express and William Hill.
Tenure
Freehold.
Location
Miles
0.5 miles to Uttoxeter Racecourse, 14 miles north-east of Stafford, 32 miles north of Birmingham
Roads
A518, A50, A515, M6 (Junction 14)
Rail
Uttoxeter Railway Station
Air
Birmingham International Airport, East Midlands Airport
Situation
Uttoxeter is an attractive market town popular for its racecourse. The property is prominently situated in the heart of the town centre, on the southern side of Market Place. Nearby occupiers include Boots, Betfred, Vision Express and William Hill.
Tenure
Freehold.
Description
The property is a three storey building comprising a ground floor banking hall and ancillary accommodation on first and second floors.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 10am. If you would like to attend you must register with us in advance, no later than 9am on Tuesday 9th 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 ancillary accommodation on first and second floors.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 10am. If you would like to attend you must register with us in advance, no later than 9am on Tuesday 9th 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
Review
Ground First Second
Banking Hall Ancillary Ancillary
119.49 sq m 72.00 sq m 74.55 sq m
(1,286 sq ft) (775 sq ft) (802 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£17,752
Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £18,195.80 pa 04/06/2020 £18,650.70 pa 04/06/2021 £19,116.97 pa 04/06/2022 £19,594.89 pa (2)
Total
266.04 sq m
(2,863 sq ft)
£17,752
(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. The tenant is not currently in occupation of the property. (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
