Entirely let to HSBC Bank Plc until 2023 (no breaks)
Popular London commuter town
Annual Rent Reviews linked to RPI rising to a minimum of £55,156.38 pa in June 2022
Nearby occupiers include Superdrug, Argos, Costa Coffee and Vodafone
VAT-free Investment
Lot 46
Auction 11th July 2018
Rent £49,968 per Annum Exclusive
Status Sold
Price £575,000
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
33 miles south-west of London
9 miles west of Guildford
20 miles south-east of Reading
Roads
M3, M25, M4
Rail
Aldershot Rail
Air
London Heathrow, London Gatwick,
Situation
Aldershot is a popular London commuter town, with strong communication links via the M3 and M25, and benefits from its substantial military base. The property is prominently situated on the pedestrianised Wellington Street, adjacent to the Wellington Shopping Centre which houses occupiers including WH Smith, Superdrug, Argos and Vodafone. Other nearby occupiers include Costa Coffee, BrightHouse and Clarks Shoes.
Tenure
Freehold.
Location
Miles
33 miles south-west of London
9 miles west of Guildford
20 miles south-east of Reading
Roads
M3, M25, M4
Rail
Aldershot Rail
Air
London Heathrow, London Gatwick,
Situation
Aldershot is a popular London commuter town, with strong communication links via the M3 and M25, and benefits from its substantial military base. The property is prominently situated on the pedestrianised Wellington Street, adjacent to the Wellington Shopping Centre which houses occupiers including WH Smith, Superdrug, Argos and Vodafone. Other nearby occupiers include Costa Coffee, BrightHouse and Clarks Shoes.
Tenure
Freehold.
Description
The property is an attractive three storey building providing a ground floor banking hall with office and ancillary accommodation on first and second floors and storage accommodation at basement level.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 04/07/2018 at 9.30am. If you would like to attend you must register with us in advance no later than 9.00am on 02/07/2018. 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 providing a ground floor banking hall with office and ancillary accommodation on first and second floors and storage accommodation at basement level.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 04/07/2018 at 9.30am. If you would like to attend you must register with us in advance no later than 9.00am on 02/07/2018. 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 Second
Banking Hall Storage Office/Ancillary Ancillary
162.70 sq m 86.61 sq m 69.15 sq m 83.39 sq m
(1,751 sq ft) (932 sq ft) (744 sq ft) (897 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£49,968.96
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £51,218.18 pa 04/06/2020 £52,498.63 pa 04/06/2021 £53,811.10 pa 04/06/2022 £55,156.38 pa (2)
Total
401.85 sq m
(4,324 sq ft)
£49,968.96
(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 of 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.gov.uk
