1 King Street Bridlington Yorkshire YO15 2DL

1 King Street
Bridlington
Yorkshire
YO15 2DL

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Popular tourist destination
  • Annual Rent Reviews linked to RPI rising to a minimum of £43,544.51 pa in June 2022
  • Nearby occupiers include Holland & Barrett, Sports Direct, Superdrug and Iceland
  • VAT-free Investment
  • Lot
    77
  • Auction
    11th July 2018
  • Rent
    £39,449 per Annum Exclusive
  • Status
    Sold
  • Price
    £415,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Charitable Foundation
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Popular tourist destination
  • Annual Rent Reviews linked to RPI rising to a minimum of £43,544.51 pa in June 2022
  • Nearby occupiers include Holland & Barrett, Sports Direct, Superdrug and Iceland
  • VAT-free Investment
  • Lot 77
  • Auction 11th July 2018
  • Rent
  • Status Sold
  • Price £415,000
  • 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
41 miles east of York
67 miles north-east of Leeds
67 miles south-east of Middlesbrough
Roads
A165, A614
Rail
Bridlington Railway Station
Air
Leeds Bradford Airport
Situation

Bridlington is a popular tourist destination situated on the north-east coast of Humberside. The property occupies a prominent corner position on the pedestrianised King Street, at its junction with Manor Street and Chapel Street.
The Promenades Shopping Centre is located within close proximity, housing occupiers including Greggs, Holland & Barrett, Peacocks and Sports Direct. Other nearby occupiers include Superdrug, Iceland and CEX.

Tenure

Freehold.

Location
Miles
41 miles east of York
67 miles north-east of Leeds
67 miles south-east of Middlesbrough
Roads
A165, A614
Rail
Bridlington Railway Station
Air
Leeds Bradford Airport
Situation

Bridlington is a popular tourist destination situated on the north-east coast of Humberside. The property occupies a prominent corner position on the pedestrianised King Street, at its junction with Manor Street and Chapel Street.
The Promenades Shopping Centre is located within close proximity, housing occupiers including Greggs, Holland & Barrett, Peacocks and Sports Direct. Other nearby occupiers include Superdrug, Iceland and CEX.

Tenure

Freehold.

Description

The property comprises a prominent period corner building comprising a ground floor banking hall with basement storage accommodation. The entrance via King Street provides selfcontained office accommodation arranged on ground, first and second floors. The property contains an internal courtyard area to the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 29/06/2018 at 1pm. If you would like to attend you must register with us in advance no later than midday on 27/06/2018. 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 comprises a prominent period corner building comprising a ground floor banking hall with basement storage accommodation. The entrance via King Street provides selfcontained office accommodation arranged on ground, first and second floors. The property contains an internal courtyard area to the rear.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 29/06/2018 at 1pm. If you would like to attend you must register with us in advance no later than midday on 27/06/2018. 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
Office
167.20 sq m
97.10 sq m
43.90 sq m
42.20 sq m
(1,799 sq ft)
(1,045 sq ft)
(472 sq ft)
(454 sq ft)
HSBC
BANK PLC
(1)
15 years from
04/06/2008 until
03/06/2023 on a
full repairing and
insuring lease
£39,449.18 Annual RPI Linked uplifts
rising to a minimum of:
04/06/2019 £40,435.40 pa
04/06/2020 £41,446.29 pa
04/06/2021 £42,482.45 pa
04/06/2022 £43,544.51 pa
(2)
Total
350.40 sq m
(3,770 sq ft)
    £39,449.18  

(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

Property Documents

  • Site Plan
    Updated Date
    28.10.19
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    902 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Seller's Solicitors
Edwin Coe LLP 2 Stone Buildings, Lincoln's Inn
London
WC2A 3TH
Ian Gilmour 0207 691 4049ian.gilmour@edwincoe.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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