503 Langsett Road Hillsborough Yorkshire S6 2LP

503 Langsett Road
Hillsborough
Yorkshire
S6 2LP

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Town centre location, 2.6 miles from Sheffield city centre
Annual Rent Reviews linked to RPI rising to a minimum of £32,658.38 pa in June 2022
Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon public house
VAT-free investment

Lot
44
Auction
5th December 2018
Rent
£29,587 per Annum Exclusive
Status
Sold
Price
£258,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of a Charitable Foundation

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Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Town centre location, 2.6 miles from Sheffield city centre
Annual Rent Reviews linked to RPI rising to a minimum of £32,658.38 pa in June 2022
Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon public house
VAT-free investment

Lot 44
Auction 5th December 2018
Rent £29,587 per Annum Exclusive
Status Sold
Price £258,000
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: 2.6 miles north-west of Sheffield city centre; 8 miles west of Rotherham
Roads: A629, A57, M1
Rail: Sheffield Train Station
Air: Manchester Airport

Situation

Hillsborough is a popular commuter suburb in north-west Sheffield, near the Peak District National Park and just 2.6 miles from Sheffield city centre. The property occupies a prominent position on Langsett Road, which runs parallel to the A61. Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon

Tenure

Freehold.

Location

Miles: 2.6 miles north-west of Sheffield city centre; 8 miles west of Rotherham
Roads: A629, A57, M1
Rail: Sheffield Train Station
Air: Manchester Airport

Situation

Tenure

Freehold.

Description

The property is a two storey building and comprises a ground floor banking hall with first floor office and basement ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £250,000

Viewings

A block viewing will be held for this property. Please refer to the website 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 two storey building and comprises a ground floor banking hall with first floor office and basement ancillary accommodation.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £250,000

Viewings

A block viewing will be held for this property. Please refer to the website 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 Basement First	Banking Hall Ancillary Office	161.59 sq m 89.80 sq m 71.90 sq m	(1,739 sq ft) (966 sq ft) (774 sq ft)	HSBC BANK PLC (1) (2)	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 £30,326.55 04/06/2020 £31,084.72 04/06/2021 £31,861.84 04/06/2022 £32,658.38 (3)
Total		323.29 sq m	(3,479 sq ft)			£29,587

(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