Let to WRP Management Limited on a 150 year lease expiring 2145 (no breaks)
Sublet to HSBC Bank Plc at £133,200 p.a.x.
Adjacent to the principal entrance to the newly completed Intu shopping centre
Nearby occupiers include Zara, Primark, Debenhams, John Lewis and H&M
Lot 1
Auction 5th December 2018
Rent £6,660 per Annum Exclusive
Status Sold
Price £265,000
Sector Ground Rent
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Selling on behalf of Watford Borough Council
Property Information
Location
Miles
5 miles north of Harrow 6 miles east of Rickmansworth, 16 miles north of Central London
Roads
A4008, A41, M1
Rail
Watford High Street and Watford Junction
Air
London Luton and London Heathrow
Situation
Watford is a major South East centre and a popular commuter town located some 18 miles north-west of Central London. The property occupies a prominent position adjacent to the Intu Shopping Centre, which has recently undergone a £180 million extension. Occupiers of the scheme include Zara, Primark, Debenhams, John Lewis and H&M. Other nearby occupiers include Poundland, Boots and Specsavers.
Tenure
Freehold.
Location
Miles
5 miles north of Harrow 6 miles east of Rickmansworth, 16 miles north of Central London
Roads
A4008, A41, M1
Rail
Watford High Street and Watford Junction
Air
London Luton and London Heathrow
Situation
Watford is a major South East centre and a popular commuter town located some 18 miles north-west of Central London. The property occupies a prominent position adjacent to the Intu Shopping Centre, which has recently undergone a £180 million extension. Occupiers of the scheme include Zara, Primark, Debenhams, John Lewis and H&M. Other nearby occupiers include Poundland, Boots and Specsavers.
Tenure
Freehold.
Description
The property comprises a a ground floor banking hall with basement ancillary accommodation and first and second floor office accommodation above part. The property also benefits from a mezzanine level. 73 High Street is Grade II listed.
VAT
VAT is applicable to this lot.
Note
The Buyer will pay 2% + VAT of the purchase price representing a contribution towards the seller’s cost.
Completion Period
Six Week Completion
EPC
Band D. See legal pack at acuitus.co.uk.
Description
The property comprises a a ground floor banking hall with basement ancillary accommodation and first and second floor office accommodation above part. The property also benefits from a mezzanine level. 73 High Street is Grade II listed.
VAT
VAT is applicable to this lot.
Note
The Buyer will pay 2% + VAT of the purchase price representing a contribution towards the seller’s cost.
WRP MANAGEMENT LIMITED (1) sublet to HSBC Bank Plc t/a HSBC (2)
150 years from 17/03/1995 on a full repairing and insuring lease
£6,660 (3)
17/03/2020 and five yearly
Total
498.40 sq m
(5,362 sq ft)
£6,660 (3)
(1) WRP Management Limited is a subsidiary of Intu Shopping Centres Plc (Source: Experian Group 05/11/2018). (2) The property has been sublet to HSBC Bank Plc for a term of 25 years from 17/03/1995 at a passing rent of £133,200 p.a.x. (3) The rent is currently 5% of the underlease rent. In the absence of any form of occupation, the rent will be adjusted in accordance with the terms of the lease. Please refer to the legal pack for further information.
Contacts
Seller's Solicitors
DAC Beachcroft LLP 3 Hardman Street Manchester M3 3HF
