Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on Market Place in the heart of the town centre
Annual Rent Reviews linked to RPI rising to a minimum of £39,916.08 pa in June 2022
Nearby occupiers include Winkworth Estate Agents, Barclays Bank and Nationwide
VAT-free Investment
Lot 49
Auction 18th October 2018
Rent £36,162 per Annum Exclusive
Status Sold
Price £426,000
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
13 miles north-east of Grantham
20 miles south of Lincoln
Roads
A15, A17
Rail
Sleaford Railway Station
Air
Birmingham Airport
Situation
Sleaford is a busy market town in Lincolnshire some 17 miles south of Lincoln. The property is situated in the town centre, in a prominent position at the corner of Market Place and Westgate. Nearby occupiers include Winkworth Estate Agents, Barclays Bank and Nationwide.
Tenure
Freehold.
Location
Miles
13 miles north-east of Grantham
20 miles south of Lincoln
Roads
A15, A17
Rail
Sleaford Railway Station
Air
Birmingham Airport
Situation
Sleaford is a busy market town in Lincolnshire some 17 miles south of Lincoln. The property is situated in the town centre, in a prominent position at the corner of Market Place and Westgate. Nearby occupiers include Winkworth Estate Agents, Barclays Bank and Nationwide.
Tenure
Freehold.
Description
The property is a three storey building comprising a ground floor banking hall with ancillary accommodation on the first and second floors and basement. The property benefits from a rear yard with parking for some 13 cars.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Wednesday 10th October at 10:30am. If you would like to attend you must register with us in advance, no later than 9am on Monday 8th 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 with ancillary accommodation on the first and second floors and basement. The property benefits from a rear yard with parking for some 13 cars.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Wednesday 10th October at 10:30am. If you would like to attend you must register with us in advance, no later than 9am on Monday 8th 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
240.81 sq m 122.70 sq m 71.80 sq m
(2,592 sq ft) (1,321 sq ft) (773 sq ft)
HSBC BANK PLC (1) (2)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£36,162
Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £37,066.05pa 04/06/2020 £37,992.70 pa 04/06/2021 £38,942.52 pa 04/06/2022 £39,916.08 pa (3)
Total
435.31 sq m
(4,686 sq ft)
£36,162
(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 tenant has granted a licence to individuals to use the garden for a fee of £25 per annum determinable at any stage by either party. Please refer to the legal pack. (3) 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
