1 & 3 High Street Ramsgate Kent CT11 9AD

  • 1 & 3 High Street<br>Ramsgate<br>Kent<br>CT11 9AD

1 & 3 High Street
Ramsgate
Kent
CT11 9AD

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Annual Rent Reviews linked to RPI rising to a minimum of £69,671.91 pa in June 2022
  • Nearby occupiers include Holland & Barrett, Sports Direct, Superdrug and Iceland
  • VAT-free Investment
  • Lot
    70
  • Auction
    11th July 2018
  • Rent
    £63,118 per Annum Exclusive
  • Status
    Sold
  • Price
    £706,000
  • 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)
  • Annual Rent Reviews linked to RPI rising to a minimum of £69,671.91 pa in June 2022
  • Nearby occupiers include Holland & Barrett, Sports Direct, Superdrug and Iceland
  • VAT-free Investment
  • Lot 70
  • Auction 11th July 2018
  • Rent £63,118 per Annum Exclusive
  • Status Sold
  • Price £706,000
  • 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
75 miles east of London City Centre
16 miles east of Canterbury
Roads
M2 (junction 7), A253, A256
Rail
Ramsgate Railway Station (Approximately 1 hour 16 mins to London St Pancras International)
Air
London Gatwick Airport, Manston Airport
Situation

Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property occupies a prominent corner position on the pedestrianised High Street, at its junction with Queen Street, King Street and Harbour Street. Nearby occupiers include Boots, Holland & Barrett, Poundland, EE and Caffè Nero.

Tenure

Freehold.

Location
Miles
75 miles east of London City Centre
16 miles east of Canterbury
Roads
M2 (junction 7), A253, A256
Rail
Ramsgate Railway Station (Approximately 1 hour 16 mins to London St Pancras International)
Air
London Gatwick Airport, Manston Airport
Situation

Ramsgate is a busy port on the east coast of Kent, with excellent links to the M2 via the A253. The property occupies a prominent corner position on the pedestrianised High Street, at its junction with Queen Street, King Street and Harbour Street. Nearby occupiers include Boots, Holland & Barrett, Poundland, EE and Caffè Nero.

Tenure

Freehold.

Description

The property comprises a three storey building arranged to provide a ground floor banking hall with basement and first floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 05/07/2018 at 9:30 am. If you would like to attend you must register with us in advance no later than 9am 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 comprises a three storey building arranged to provide a ground floor banking hall with basement and first floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Viewings

There will be a single block viewing held on 05/07/2018 at 9:30 am. If you would like to attend you must register with us in advance no later than 9am 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		 116.6 sq m
57.8 sq m
116.1 sq m 		(1,255 sq ft)
(622 sq ft)
(1,249 sq ft)		 HSBC
BANK
PLC (1)		 15 years from
04/06/2008 until
03/06/2023 on a
full repairing and
insuring lease		 £63,118.68 Annual RPI linked uplifts
rising to a minimum of:
04/06/2019 £64,696.65 pa
04/06/2020 £66,314.06 pa
04/06/2021 £67,971.91 pa
04/06/2022 £69,671.21 pa
(2)
Total
290.5 sq m
 (3,126 sq ft)     £63,118.68  

(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

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
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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