156 High Street Gorleston-on-Sea, Great Yarmouth Norfolk NR31 6RD

156 High Street
Gorleston-on-Sea, Great Yarmouth
Norfolk
NR31 6RD

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • High Street location within town centre
  • Annual Rent Reviews linked to RPI rising to a minimum of £32,658.51 pa in June 2022
  • Nearby occupiers include Ladbrokes, Subway and Greggs
  • VAT-free Investment
  • Lot
    71
  • Auction
    18th October 2018
  • Rent
    £29,587 per Annum Exclusive
  • Status
    Sold
  • Price
    £302,000
  • Sector
    Bank
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • On the Instructions of a Charitable Foundation
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Freehold Bank Investment

  • Entirely let to HSBC Bank Plc until 2023 (no breaks)
  • High Street location within town centre
  • Annual Rent Reviews linked to RPI rising to a minimum of £32,658.51 pa in June 2022
  • Nearby occupiers include Ladbrokes, Subway and Greggs
  • VAT-free Investment
  • Lot 71
  • Auction 18th October 2018
  • Rent
  • Status Sold
  • Price £302,000
  • 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
4 miles south of Great Yarmouth
8 miles north of Lowestoft
22 miles east of Norwich
Roads
A12, A143, A47
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation

Gorleston is a seaside town some 4 miles south of Great Yarmouth. The property is situated on the western side of High Street, within the town centre. Nearby occupiers include Ladbrokes, Subway and Greggs.

Tenure

Freehold.

Location
Miles
4 miles south of Great Yarmouth
8 miles north of Lowestoft
22 miles east of Norwich
Roads
A12, A143, A47
Rail
Great Yarmouth Railway Station
Air
Norwich International Airport
Situation

Gorleston is a seaside town some 4 miles south of Great Yarmouth. The property is situated on the western side of High Street, within the town centre. Nearby occupiers include Ladbrokes, Subway and Greggs.

Tenure

Freehold.

Description

The property is a three storey building comprising a ground floor café/restaurant 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 4:45pm. If you would like to attend you must register with us in advance, no later than midday 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 café/restaurant 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 4:45pm. If you would like to attend you must register with us in advance, no later than midday 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
Café
Ancillary
Ancillary
121.40 sq m
83.10 sq m
82.30 sq m
(1,307 sq m)
(894 sq m)
(886 sq ft)
HSBC BANK
PLC (1)
sublet to
Bellyboos
Norwich
Limited (2)
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
(3)
Total
286.80 sq m
(3,087 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 property has been sublet.
(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

Property Documents

  • Catalogue Page
    Updated Date
    28.10.19
    File Size
    634 KB
    View PDF
  • Site Plan
    Updated Date
    28.10.19
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

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

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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