21 Market Place
Gainsborough
Lincolnshire
DN21 2BU

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Located on the pedestrianised Market Place in heart of town centre
  • Annual Rent Reviews linked to RPI rising to a minimum of £32,658.51 pa in June 2022
  • Nearby occupiers include Boots Chemist, Superdrug, Barclays Bank and NatWest
  • VAT-free Investment
  • Lot
    25
  • Auction
    18/Oct/2018
  • Rent
    £29,587 per Annum Exclusive
  • Status
    Sold
  • Price*
    £312,000
  • 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
  • 21 Market Place<br>Gainsborough<br>Lincolnshire<br>DN21 2BU
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  • Photos
  • Map

Property Information

Location
Miles
18 miles south-east of Doncaster
19 miles north of Lincoln
22 miles south-west of Grimsby
Roads
A1(M), A631
Rail
Gainsborough Central Rail Station
Air
Doncaster Robin Hood Airport
Leeds Bradford International Airport
Situation

Gainsborough is a historic market town some 18 miles southeast of Doncaster. The property is situated in the heart of the town centre, on the prime pedestrianised Market Place. Oldrids Department Store is immediately adjacent to the property, with other nearby occupiers including Boots Chemist, Superdrug, Barclays Bank, NatWest and Poundstretcher.

Tenure

Freehold.

Description

The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Viewings

A block viewing will be held for this property on Monday 8th October at 10am. 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.xReview
Ground
First
Second
Banking Hall
Ancillary
Ancillary
106.53 sq m
67.80 sq m
76.90 sq m
(1,147 sq ft)
(730 sq ft)
(828 sq ft)
HSBC BANK
PLC (1)
15 years from
04/06/2008 until
03/06/2023 on a
full repairing and
insuring
lease
£29,587Annual RPI linked uplifts
rising to a minimum of:
04/06/2019 £30,326.68 pa
04/06/2020 £31,084.84 pa
04/06/2021 £31,861.96 pa
04/06/2022 £32,658.51 pa
(2)
Total
251.23 sq m
(2,705 sq ft)  £29,587 

(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

  • Catalogue Page
    Updated Date
    26.09.18
    File Size
    924 KB
    View PDF
  • Site Plan
    Updated Date
    26.09.18
    File Size
    1 MB
    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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