Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on the High Street (A452)
Annual Rent Reviews linked to RPI rising to a minimum of £32,658.51 pa in June 2022
Nearby occupiers include Tesco, Greggs and Costa Coffee
VAT-free Investment
Lot 99
Auction 18th October 2018
Status Sold
Price £265,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the Instructions of a <br />Charitable Foundation
Property Information
Location
Miles
13 miles north of Birmingham
40 miles west of Leicester
Roads
A452, A5, M6
Air
Birmingham Airport
Situation
Brownhills is a town within the Metropolitan Borough of Walsall, on the edge of Cannock Chase. The property occupies a prominent position on High Street (A452).
Nearby occupiers include Tesco, Greggs, Costa Coffee and Kwik Fit.
Tenure
Freehold.
Location
Miles
13 miles north of Birmingham
40 miles west of Leicester
Roads
A452, A5, M6
Air
Birmingham Airport
Situation
Brownhills is a town within the Metropolitan Borough of Walsall, on the edge of Cannock Chase. The property occupies a prominent position on High Street (A452).
Nearby occupiers include Tesco, Greggs, Costa Coffee and Kwik Fit.
Tenure
Freehold.
Description
The property is a two storey building comprising a ground floor banking hall and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 11am. 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 two storey building comprising a ground floor banking hall and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Thursday 11th October at 11am. 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
Reviews
Ground
Banking Hall Ancillary
220.88 sq m 81.94 sq m
(2,378 sq ft) (882 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£29,587
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £30,326.68 pa 04/06/2020 £31,084.84 pa 04/06/2021 £31,861.96 pa 04/06/2022 £32,658.51 pa (2)
Total
278.14 sq m
(2,994 sq ft)
£29,587
(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
