Former HSBC Bridge Street Boroughbridge Yorkshire YO51 9LE

  • Former HSBC<br>Bridge Street<br>Boroughbridge<br>Yorkshire<br>YO51 9LE

Former HSBC
Bridge Street
Boroughbridge
Yorkshire
YO51 9LE

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Located in historic market town
  • Annual Rent Reviews linked to RPI rising to a minimum of £32,658.38 pa in June 2022
  • Nearby occupiers include Royal Mail, Barclays Bank and Best Western
  • VAT-free investment
  • Lot
    66
  • Auction
    5th December 2018
  • Rent
    £29,587 per Annum Exclusive
  • Status
    Sold
  • Price
    £300,000
  • 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)
  • Located in historic market town
  • Annual Rent Reviews linked to RPI rising to a minimum of £32,658.38 pa in June 2022
  • Nearby occupiers include Royal Mail, Barclays Bank and Best Western
  • VAT-free investment
  • Lot 66
  • Auction 5th December 2018
  • Rent £29,587 per Annum Exclusive
  • Status Sold
  • Price £300,000
  • 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
10 miles north-east of Harrogate
17 miles north-west of York
27 miles north of Leeds
Roads
A1 (M), A59
Rail
Thirsk Railway Station
Air
Leeds Bradford Airport
Situation

Boroughbridge is a town in the Harrogate district of North Yorkshire, on the edge of the Vale of York and some 27 miles from Leeds. The property is situated in the north of the town, next to the River Ure on the east side of Bridge Street. Nearby occupiers include Royal Mail (Post Office), Barclays Bank and Best Western.

Tenure

Freehold.

Location
Miles
10 miles north-east of Harrogate
17 miles north-west of York
27 miles north of Leeds
Roads
A1 (M), A59
Rail
Thirsk Railway Station
Air
Leeds Bradford Airport
Situation

Boroughbridge is a town in the Harrogate district of North Yorkshire, on the edge of the Vale of York and some 27 miles from Leeds. The property is situated in the north of the town, next to the River Ure on the east side of Bridge Street. Nearby occupiers include Royal Mail (Post Office), Barclays Bank and Best Western.

Tenure

Freehold.

Description

The property is a two storey building comprising a ground floor banking hall and first floor ancillary accommodation. The property benefits from parking at the rear, a garden and outbuildings.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £275,000

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 comprising a ground floor banking hall and first floor ancillary accommodation. The property benefits from parking at the rear, a garden and outbuildings.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £275,000

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
First		 Banking Hall
Ancillary
171.90 sq m
112.10 sq m
(1,850 sq ft)
(1,206 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
284.00 sq m
(3,056 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

Contacts

Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn
London
WC2A 3TH
Ian Gilmour 0207 691 4049ian.gilmour@edwincoe.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
AquillaNatasha Ward+44 (0)20 3159 4314+44 (0)7545 208 759natashaw@aquillaib.co.uk

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