Entirely let to HSBC Bank Plc until 2023 (no breaks)
Attractive corner building in town centre
Annual Rent Reviews linked to RPI rising to a minimum of £31,932.20 pa in June 2022
Nearby occupiers include NatWest Bank, Peacocks, William Hill and WH Smith
VAT-free Investment
Lot 93
Auction 18th October 2018
Rent £28,929 per Annum Exclusive
Status Sold
Price £301,000
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
36 miles west of Chester
76 miles west of Manchester
26 miles north-east of Caernarfon
Roads
A470, A547, A55
Rail
Colwyn Bay Railway Station
Air
Liverpool John Lennon Airport
Situation
Colwyn Bay is a popular seaside town on the North Wales coast, 36 miles west of Chester and 26 miles north-east of Caernarfon. The property is located on Conway Road, diagonally opposite its junction with Station Road, the town’s primary pedestrianised shopping thoroughfare. Nearby occupiers include NatWest Bank, Peacocks, William Hill and WH Smith.
Tenure
Freehold.
Location
Miles
36 miles west of Chester
76 miles west of Manchester
26 miles north-east of Caernarfon
Roads
A470, A547, A55
Rail
Colwyn Bay Railway Station
Air
Liverpool John Lennon Airport
Situation
Colwyn Bay is a popular seaside town on the North Wales coast, 36 miles west of Chester and 26 miles north-east of Caernarfon. The property is located on Conway Road, diagonally opposite its junction with Station Road, the town’s primary pedestrianised shopping thoroughfare. Nearby occupiers include NatWest Bank, Peacocks, William Hill and WH Smith.
Tenure
Freehold.
Description
The property is an attractive four storey corner building comprising a ground floor banking hall and ancillary accommodation over basement, first and second floors. There is staff parking for approximately six cars.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 2:30pm. 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 an attractive four storey corner building comprising a ground floor banking hall and ancillary accommodation over basement, first and second floors. There is staff parking for approximately six cars.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 2:30pm. 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 Basement First Second
Banking Hall Ancillary Ancillary Ancillary
172.99 sq m 44.98 sq m 27.00 sq m 88.20 sq m
(1,862 sq ft) (484 sq ft) (291 sq ft) (949 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£28,929
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £29,652.23 pa 04/06/2020 £30,393.53 pa 04/06/2021 £31,153.37 pa 04/06/2022 £31,932.20 pa (2)
Total
333.17 sq m
(3,586 sq ft)
£28,929
(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. The basement is not accessible and was not inspected by the auctioneers.
Contacts
Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn London WC2A 3TH
