14 Upper Brook Street Rugeley Staffordshire WS15 2DW

14 Upper Brook Street
Rugeley
Staffordshire
WS15 2DW

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Town centre location
Annual Rent Reviews linked to RPI rising to a minimum of £23,949.43 pa in June 2022
Nearby occupiers include Thomas Cook, Specsavers and Lloyds Bank
VAT-free investment

Lot
3
Auction
5th December 2018
Rent
£21,697 per Annum Exclusive
Status
Sold
Price
£226,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Charitable Foundation

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Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Town centre location
Annual Rent Reviews linked to RPI rising to a minimum of £23,949.43 pa in June 2022
Nearby occupiers include Thomas Cook, Specsavers and Lloyds Bank
VAT-free investment

Lot 3
Auction 5th December 2018
Rent £21,697 per Annum Exclusive
Status Sold
Price £226,000
Sector
Bank
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of a Charitable Foundation

Property Information

Location

Miles: 5.7 miles north-east of Cannock; 7.9 miles north-west of Lichfield
Roads: A460, A51
Rail: Rugeley Town Train Station
Air: Birmingham International Airport

Situation

Rugeley is a historic market town in the county of Staffordshire. The property is located in the heart of the town centre, on the pedestrianised Upper Brook Street. Nearby occupiers include Thomas Cook, Specsavers and Lloyds Bank.

Tenure

Freehold.

Location

Miles: 5.7 miles north-east of Cannock; 7.9 miles north-west of Lichfield
Roads: A460, A51
Rail: Rugeley Town Train Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £225,000

Viewings

A block viewing will be held for this property. Please refer to the auctioneer for the scheduled date and time.

Completion Period

Six Week Completion Available

EPC

Available from the legal pack at www.acuitus.co.uk

Description

The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £225,000

Viewings

A block viewing will be held for this property. Please refer to the auctioneer for the scheduled date and time.

Completion Period

Six Week Completion Available

EPC

Available from the legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground First Second	Banking Hall Ancillary Ancillary	129.30 sq m 82.20 sq m 28.70 sq m	(1,392 sq ft) (885 sq ft) (309 sq ft)	HSBC BANK PLC (1) (2)	15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease	£21,697	Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £22,239.47 04/06/2020 £22,795.46 04/06/2021 £23,365.35 04/06/2022 £23,949.48 (3)
Total		240.20 sq m	(2,586 sq ft)			£21,697

(1) For the year ending 31st December 2017, HSBC Bank plc did not report a turnover, but reported pre-tax profits of £2.37bn, shareholders’ funds of £44.049bn and a net worth of £38.113bn (Source: Experian Group 10/08/2018). HSBC is one of the world’s largest banking and financial services organisations – further information can be found at www.hsbc.com
(2) The tenant is not currently in occupation.
(3. 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