2 Market Place
Wymondham
Norfolk
NR18 0AP

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Located within heart of historic market town
  • Annual Rent Reviews linked to RPI rising to a minimum of £29,029.18 pa in June 2022
  • Nearby occupiers include Barclays Bank, Savers,Ladbrokes and a Co-operative convenience store
  • VAT-free Investment
  • Lot
    3
  • Auction
    18/Oct/2018
  • Rent
    £26,299 per Annum Exclusive
  • Status
    Sold
  • Price*
    £400,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Charitable Foundation
Important Property Update
  • 2 Market Place<br>Wymondham<br>Norfolk<br>NR18 0AP
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Property Information

Location
Miles
9 miles south-west of Norwich
Roads
A11
Rail
Wymondham Rail
Air
Norwich International Airport
Situation

Wymondham is the largest market town in South Norfolk. The property is situated in the heart of the town centre on the northern side of Market Place, the focal point of the town’s historic centre. Nearby occupiers include Barclays Bank, Savers, Ladbrokes, a Co-operative convenience store and Best Western Hotel.

Tenure

Freehold.

Description

The property is a two storey building comprising a ground floor banking hall and ancillary accommodation on the first floor. The property benefits from a large car park to the rear with parking for approximately six cars.

VAT

VAT is not applicable to this lot.

Viewings

A block viewing will be held for this property on Monday 8th October at 2:30pm. If you would like to attend you must register with us in advance, no later than 9am on Thursday 4th October. 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

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
First
Banking Hall
Ancillary
149.60 sq m
48.80 sq m
(1,610 sq ft)
(525 sq ft)
HSBC
BANK PLC
(1)
15 years from
04/06/2008 until
03/06/2023 on a full
repairing and
insuring lease
£26,299Annual RPI linked uplifts
rising to a minimum of:
04/06/2019 £26,956.48 pa
04/06/2020 £27,630.39 pa
04/06/2021 £28,321.15 pa
04/06/2022 £29,029.18 pa
(2)
Total
198.40 sq m
(2,135 sq ft)  £26,299 

(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 10/08/2018). 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

Property Documents

  • Solicitors Legal Pack
    Updated Date
    15.10.18
    File Size
    34 MB
    Login to View
  • Site Plan
    Updated Date
    26.09.18
    File Size
    2 MB
    View PDF
  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    722 KB
    View PDF
  • Common Auction conditions
    Updated Date
    27.03.17
    File Size
    124 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
Gwen ThomasGwen Thomas +44 (0)20 7034 4857 +44 (0)7809 363549gwen.thomas@acuitus.co.uk
Georgina RobertsGeorgina Roberts +44 (0)20 7034 4863georgina.roberts@acuitus.co.uk
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

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