63 High Street Lewes East Sussex BN7 1XQ

63 High Street
Lewes
East Sussex
BN7 1XQ

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Historic and affluent East Sussex town
Annual Rent Reviews linked to RPI rising to a minimum of £36,287.09 pa in June 2022
Nearby occupiers include Caffè Nero, Fat Face, Jigsaw and Prezzo
VAT-free Investment

Lot
1
Auction
11th July 2018
Rent
£32,874 per Annum Exclusive
Status
Sold
Price
£462,000
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)
Historic and affluent East Sussex town
Annual Rent Reviews linked to RPI rising to a minimum of £36,287.09 pa in June 2022
Nearby occupiers include Caffè Nero, Fat Face, Jigsaw and Prezzo
VAT-free Investment

Lot 1
Auction 11th July 2018
Rent £32,874 per Annum Exclusive
Status Sold
Price £462,000
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: 8 miles north-east of Brighton, 23 miles south-west of Tunbridge Wells
Roads: A26, A27, M23, M25 (Junction 7)
Rail: Lewes Railway Station
Air: London Gatwick Airport

Situation

Lewes is a historic and affluent East Sussex town situated 8 miles from Brighton, located on the south coast. The property occupies a prominent position on the High Street on the main retailing pitch. Nearby occupiers include Caffè Nero, Fat Face, Jigsaw and Prezzo.

Tenure

Freehold.

Location

Miles: 8 miles north-east of Brighton, 23 miles south-west of Tunbridge Wells
Roads: A26, A27, M23, M25 (Junction 7)
Rail: Lewes Railway Station
Air: London Gatwick Airport

Situation

Tenure

Freehold.

Description

The property is an attractive three storey building comprising a ground floor banking hall with basement and first floor ancillary accommodation. The property benefits from two lifts.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 05/07/2018 at 1pm. If you would like to attend you must register with us in advance no later than midday on 03/07/2018. Please register with Georgina Roberts on georgina.roberts@acuitus.co.uk - you will need to provide the full names of all parties attending and mobile telephone numbers. Photographic ID will be required on site.

Completion Period

Six Week Completion Available

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

The property is an attractive three storey building comprising a ground floor banking hall with basement and first floor ancillary accommodation. The property benefits from two lifts.

VAT

VAT is not applicable to this lot.

Viewings

Completion Period

Six Week Completion Available

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	Reviews
Ground Basement First	Banking Hall Ancillary Ancillary	93.30 sq m 46.90 sq m 24.70 sq m	(1,004 sq ft) (504 sq ft) (265 sq ft)	HSBC BANK PLC (1)	15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease	£32,874.31	Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £33,696.17 pa 04/06/2020 £34,538.57 pa 04/06/2021 £35,402.04 pa 04/06/2022 £36,287.09 pa (2)
Total		164.9 sq m	(1,773 sq ft)			£32,874.31

(1) For the year ending 31st December 2017, HSBC Bank plc did not report a turnover, but reported a pre-tax profit of £2.37bn, shareholders’ funds of £44.049bn and a net worth of £38.113bn (Source: Experian Group 09/05/2018). HSBC is one the world’s largest banking and financial services organisations - further information can be found at www.hsbc.com
(2) 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