Prominent location close to Boots the Chemist and Caffè Nero
VAT-free bank investment in attractive and historic market town
Lot 4
Auction 13th July 2017
Rent £40,000 per Annum Exclusive
Status Sold Prior
Price
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
9 miles south-east of Melton Mowbray, 24 miles east of Leicester
Roads
A47, A606, A3003
Rail
Oakham Railway Station
Air
East Midlands Airport
Situation
The property is prominently situated on the south side of High Street, close to its junction with Market Street and Market Place, in the heart of Oakham town centre. Nearby occupiers include Boots the Chemist, Caffè Nero, Costa, Fat Face and branches of Barclays, Santander and NatWest banks.
Tenure
Freehold.
Location
Miles
9 miles south-east of Melton Mowbray, 24 miles east of Leicester
Roads
A47, A606, A3003
Rail
Oakham Railway Station
Air
East Midlands Airport
Situation
The property is prominently situated on the south side of High Street, close to its junction with Market Street and Market Place, in the heart of Oakham town centre. Nearby occupiers include Boots the Chemist, Caffè Nero, Costa, Fat Face and branches of Barclays, Santander and NatWest banks.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with ancillary accommodation on the basement floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor banking hall with ancillary accommodation on the basement floor.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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/ (Reversion)
Ground
Basement
Banking Hall/ Ancillary Ancillary
237.70 sq m
54.80 sq m
(2,559 sq ft)
(590 sq ft)
HSBC BANK PLC (1)
15 years from 08/11/2007 on a full repairing and insuring lease (2)
£40,000
08/11/2017 (07/11/2022) (3)
Totals
292.50 sq m
(3,149 sq ft)
£40,000
(1) For the year ending 31st December 2016, HSBC Bank Plc reported pre-tax profits of £874,000,000 and a total net worth of £34,195,000,000 (Source: Experian Group 12/06/2017). (2) The lease is full repairing and insuring subject to a Schedule of Condition. (3) The lease contains an option for HSBC to take a new 15 year lease at the expiry of the existing lease.