Entirely Let to HSBC Bank plc until 2022 (subject to option)
Prominent corner position. Approximately 500 metres form West Ham United FC Stadium.
Nearby occupiers include Tesco Metro, Superdrug, Nationwide Building Society, Greggs and Iceland
Includes a Self Contained 2 Bedroom Flat
Six Week Completion
Lot 31
Auction 11th July 2013
Rent £60,000 per Annum Exclusive
Status Sold
Price £825,000
Sector Bank
Auction Venue Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
9 miles East of Central London
Roads
A114, A117, A118, A124
Rail
Upton Park Underground Station (Circle Line, District Line, Hammersmith & City Line)
Air
London City Airport, London Heathrow, London Stansted
Situation
Green Street is a highly popular East London retail street and benefits from a diverse and cosmopolitan demographic. The property is situated in a prominent corner position on the eastern side of Green Street at its junction with Crescent Road and approximately 150 metres west of Upton Park Underground station and Queens Market. Green Street is also home to West Ham United Premiership FC, the stadium is some 500 metres form the property.
Tenure
Freehold. Majority Freehold. A part of the property is held on a 99 year lease
form 31st July 1974 at a rent of £10 per annum.
Location
Miles
9 miles East of Central London
Roads
A114, A117, A118, A124
Rail
Upton Park Underground Station (Circle Line, District Line, Hammersmith & City Line)
Air
London City Airport, London Heathrow, London Stansted
Situation
Green Street is a highly popular East London retail street and benefits from a diverse and cosmopolitan demographic. The property is situated in a prominent corner position on the eastern side of Green Street at its junction with Crescent Road and approximately 150 metres west of Upton Park Underground station and Queens Market. Green Street is also home to West Ham United Premiership FC, the stadium is some 500 metres form the property.
Tenure
Freehold. Majority Freehold. A part of the property is held on a 99 year lease
form 31st July 1974 at a rent of £10 per annum.
Description
The property is an attractive traditional built Bank comprising a Banking hall and ancillary accommodation on the ground floor, ancillary accommodation on the first floor and a self contained 2 bedroom residential flat on the second floor. The flat is accessed via Green Street.
VAT
VAT is not applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property is an attractive traditional built Bank comprising a Banking hall and ancillary accommodation on the ground floor, ancillary accommodation on the first floor and a self contained 2 bedroom residential flat on the second floor. The flat is accessed via Green Street.
VAT
VAT is not applicable to this lot.
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
Review
Ground
Banking Hall/ Ancillary
125.66 sq m 41.50 sq m
(1,352 sq ft) (446 sq ft)
HSBC BANK PLC (1)
15 years from 27/03/2007 until 2022 on a full repairing and insuring lease (2)
£60,000
27/03/2017
First Second
Ancillary Residential 3 room flat
78.48 sq m 53.53 sq m
(845 sq ft) (576 sq ft)
Totals
299.17 sq m
(3,219 sq ft)
£60,000
(1) For the year ending 31/12/2012, HSBC Bank plc reported pre-tax profits of £1,004,000,000 and a total net worth of £23,849,000,000.(Source: www.riskdisk.com 03/06/2013) (2) The lease is subject to a tenant option to determine the lease on 26th March 2017 and a schedule of condition.
