Entirely let to HSBC Bank Plc until 2023 (no breaks)
Annual Rent Reviews linked to RPI rising to a minimum of £39,915.80 pa in June 2022
Nearby occupiers include WH Smith, British Heart Foundation and Peacocks
Development potential (subject to consents)
VAT-free Investment
Lot 25
Auction 11th July 2018
Rent £36,161 per Annum Exclusive
Status Sold
Price £470,000
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
12.3 miles south of Oxford
18 miles north west of Reading
Roads
B4493, A34, M4 (Junction 13)
Rail
Didcot Parkway Rail
Air
Heathrow Airport
Situation
Didcot is located 12.3 miles south of Oxford and has seen substantial development over recent years following gaining Garden Town status. The property is located on Broadway within the town centre, adjacent to WH Smith. Other nearby occupiers include The Market Place Shopping Centre, Domino’s Pizza, British Heart Foundation and Peacocks. Broadway benefits from street parking outside of the property for approximately 20 cars.
Tenure
Freehold.
Location
Miles
12.3 miles south of Oxford
18 miles north west of Reading
Roads
B4493, A34, M4 (Junction 13)
Rail
Didcot Parkway Rail
Air
Heathrow Airport
Situation
Didcot is located 12.3 miles south of Oxford and has seen substantial development over recent years following gaining Garden Town status. The property is located on Broadway within the town centre, adjacent to WH Smith. Other nearby occupiers include The Market Place Shopping Centre, Domino’s Pizza, British Heart Foundation and Peacocks. Broadway benefits from street parking outside of the property for approximately 20 cars.
Tenure
Freehold.
Description
The property comprises a ground floor banking hall with a large yard to the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 02/07/2018 at 9.30 am. If you would like to attend you must register with us in advance no later than 9 am on 28/06/2018. 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 ground floor banking hall with a large yard to the rear.
VAT
VAT is not applicable to this lot.
Viewings
There will be a single block viewing held on 02/07/2018 at 9.30 am. If you would like to attend you must register with us in advance no later than 9 am on 28/06/2018. 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
Banking Hall
122.07 sq m
(1,313 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£36,161.74
Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £37,065.79 pa 04/06/2020 £37,992.43 pa 04/06/2021 £38,942.24 pa 04/06/2022 £39,915.80 pa (2)
Total
122.07 sq m
(1,313 sq ft)
£36,161.74
(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
