17 The Marsh Hythe Southampton Hampshire SO45 6ZB

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
18th October 2018
Rent
£42,079 per Annum Exclusive
Status
Sold
Price
£450,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On the Instructions of a Charitable Foundation

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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 18th October 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

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.

Location

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

Situation

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.

Description

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
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	£42,079	Annual 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