Entirely let to HSBC Bank Plc until 2023 (no breaks)
Located on Market Place within town centre
Annual Rent Reviews linked to RPI rising to a minimum of £47,898.86 pa in June 2022
Nearby occupiers include Costa Coffee, Subway, Halifax and Natwest
VAT-free Investment
Lot 60
Auction 18th October 2018
Rent £43,394 per Annum Exclusive
Status Sold
Price £400,000
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
6.5 miles south-west of Nottingham
10 miles east of Derby
25 miles north of Leicester
48 miles north-east of Birmingham
Roads
A50, A52, M1 (Junction 25)
Rail
Long Eaton Railway Station
Air
East Midlands Airport
Situation
Long Eaton is located approximately equidistant between the city of Nottingham and the city of Derby and some 8 miles north of East Midlands Airport. The property is situated on the western side of Market Place, close to its junction with the pedestrianised High Street. Nearby occupiers include Costa Coffee, Subway, Halifax and NatWest.
Tenure
Freehold.
Location
Miles
6.5 miles south-west of Nottingham
10 miles east of Derby
25 miles north of Leicester
48 miles north-east of Birmingham
Roads
A50, A52, M1 (Junction 25)
Rail
Long Eaton Railway Station
Air
East Midlands Airport
Situation
Long Eaton is located approximately equidistant between the city of Nottingham and the city of Derby and some 8 miles north of East Midlands Airport. The property is situated on the western side of Market Place, close to its junction with the pedestrianised High Street. Nearby occupiers include Costa Coffee, Subway, Halifax and NatWest.
Tenure
Freehold.
Description
The property is a three storey building comprising a ground floor banking hall and first and second floor ancillary accommodation. The property benefits from a large yard area to the rear.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Wednesday 10th October at 2:30pm. If you would like to attend you must register with us in advance, no later than midday 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 and first and second floor ancillary accommodation. The property benefits from a large yard area to the rear.
VAT
VAT is not applicable to this lot.
Viewings
A block viewing will be held for this property on Wednesday 10th October at 2:30pm. If you would like to attend you must register with us in advance, no later than midday 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
Reviews
Ground First Second
Banking Hall Ancillary Ancillary
226.20 sq m 94.00 sq m 39.60 sq m
(2,435 sq ft) (1,012 sq ft) (426 sq ft)
HSBC BANK PLC (1)
15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease
£43,394
Annual RPI Linked uplifts rising to a minimum of: 04/06/2019 £44,478.85 pa 04/06/2020 £45,590.82 pa 04/06/2021 £46,730.59 pa 04/06/2022 £47,898.86 pa (2)
Total
359.80 sq m
(3,873 sq ft)
£43,394
(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
