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
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.
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
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.
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
