17 The Marsh
Hythe
Southampton
Hampshire
SO45 6ZB

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • Town centre corner building with development potential (subject to consents)
  • Annual Rent Reviews linked to RPI rising to a minimum of £46,447.34 pa in June 2022
  • Nearby occupiers include Waitrose, Thomas Cook, Subway and NatWest
  • VAT-free Investment
  • Lot
    28
  • Auction
    18/Oct/2018
  • Rent
    £42,079 per Annum Exclusive
  • Status
    Sold
  • Price*
    £450,000
  • 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
  • 17 The Marsh<br>Hythe<br>Southampton<br>Hampshire<br>SO45 6ZB
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Property Information

Location
Miles
3 miles south of Southampton
28 miles north east of Bournemouth
Roads
M27, M3
Rail
Totton Rail
Air
Southampton International Airport
Situation

Hythe is a waterfront town located between the New Forest National Park and Southampton Water, with a ferry service connecting it directly to Southampton. The property is situated on The Marsh, which runs parallel to the pedestrianised High Street. Nearby occupiers include a Waitrose supermarket, Thomas Cook, Subway, NatWest and Domino’s Pizza.

Tenure

Freehold.

Description

The property is a two storey corner building comprising a ground floor banking hall and first floor ancillary accommodation. There are two external storage rooms and two car parking spaces to the rear.

VAT

VAT is not applicable to this lot.

Viewings

A block viewing will be held for this property.

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
Banking Hall
Ancillary
123.53 sq m
28.97 sq m
(1,330 sq ft)
(312 sq ft)
HSBC
BANK PLC
(1)
15 years from
04/06/2008 until
03/06/2023 on a
full repairing and
insuring lease
£42,079Annual RPI linked uplifts
rising to a minimum of:
04/06/2019 £43,130.98 pa
04/06/2020 £44,209.25 pa
04/06/2021 £45,314.48 pa
04/06/2022 £46,447.34 pa
(2)
Total
152.50 sq m
(1,642 sq ft)  £42,079 

(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
    814 KB
    View PDF
  • Site Plan
    Updated Date
    26.09.18
    File Size
    2 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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