67 High Street Brownhills, Birmingham West Midlands WS8 6HJ

67 High Street
Brownhills, Birmingham
West Midlands
WS8 6HJ

Freehold Bank Investment

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
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of a <br />Charitable Foundation

Important Update Interested?

Expand
Photos
Map

Freehold Bank Investment

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

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

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