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 18th October 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
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.
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.
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
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
£29,587
Annual 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
