HSBC 73 - 75 High Street Watford Hertfordshire WD17 2DS

  • HSBC<br>73 - 75 High Street<br>Watford<br>Hertfordshire<br>WD17 2DS

HSBC
73 - 75 High Street
Watford
Hertfordshire
WD17 2DS

Freehold Ground Rent Investment

  • Let to WRP Management Limited on a 150 year lease expiring 2145 (no breaks)
  • Sublet to HSBC Bank Plc at £133,200 p.a.x.
  • Adjacent to the principal entrance to the newly completed Intu shopping centre
  • Nearby occupiers include Zara, Primark, Debenhams, John Lewis and H&M
  • Lot
    1
  • Auction
    5th December 2018
  • Rent
    £6,660 per Annum Exclusive
  • Status
    Sold
  • Price
    £265,000
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Selling on behalf of Watford Borough Council
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Freehold Ground Rent Investment

  • Let to WRP Management Limited on a 150 year lease expiring 2145 (no breaks)
  • Sublet to HSBC Bank Plc at £133,200 p.a.x.
  • Adjacent to the principal entrance to the newly completed Intu shopping centre
  • Nearby occupiers include Zara, Primark, Debenhams, John Lewis and H&M
  • Lot 1
  • Auction 5th December 2018
  • Rent £6,660 per Annum Exclusive
  • Status Sold
  • Price £265,000
  • Sector
    Ground Rent
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Selling on behalf of Watford Borough Council

Property Information

Location
Miles
5 miles north of Harrow 6 miles east of Rickmansworth, 16 miles north of Central London
Roads
A4008, A41, M1
Rail
Watford High Street and Watford Junction
Air
London Luton and London Heathrow
Situation

Watford is a major South East centre and a popular commuter town located some 18 miles north-west of Central London. The property occupies a prominent position adjacent to the Intu Shopping Centre, which has recently undergone a £180 million extension. Occupiers of the scheme include Zara, Primark, Debenhams, John Lewis and H&M. Other nearby occupiers include Poundland, Boots and Specsavers.

Tenure

Freehold.

Location
Miles
5 miles north of Harrow 6 miles east of Rickmansworth, 16 miles north of Central London
Roads
A4008, A41, M1
Rail
Watford High Street and Watford Junction
Air
London Luton and London Heathrow
Situation

Watford is a major South East centre and a popular commuter town located some 18 miles north-west of Central London. The property occupies a prominent position adjacent to the Intu Shopping Centre, which has recently undergone a £180 million extension. Occupiers of the scheme include Zara, Primark, Debenhams, John Lewis and H&M. Other nearby occupiers include Poundland, Boots and Specsavers.

Tenure

Freehold.

Description

The property comprises a a ground floor banking hall with basement ancillary accommodation and first and second floor office accommodation above part. The property also benefits from a mezzanine level. 73 High Street is Grade II listed.

VAT

VAT is applicable to this lot.

Note

The Buyer will pay 2% + VAT of the purchase price representing a contribution towards the seller’s cost.

Completion Period

Six Week Completion

EPC

Band D. See legal pack at acuitus.co.uk.

Description

The property comprises a a ground floor banking hall with basement ancillary accommodation and first and second floor office accommodation above part. The property also benefits from a mezzanine level. 73 High Street is Grade II listed.

VAT

VAT is applicable to this lot.

Note

The Buyer will pay 2% + VAT of the purchase price representing a contribution towards the seller’s cost.

Completion Period

Six Week Completion

EPC

Band D. See legal pack at acuitus.co.uk.

Tenancy & Accommodation

Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Reviews
Ground
Basement
First
Mezzanine
Second		 Retail
Ancillary
Office/Ancillary
Office/Ancillary
Office/Ancillary
240.40 sq m
126.70 sq m
73.60 sq m
36.00 sq m
21.70 sq m
(2,587 sq ft)
(1,363 sq ft)
(792 sq ft)
(387 sq ft)
(233 sq ft)
 WRP
MANAGEMENT
LIMITED (1)
sublet to HSBC
Bank Plc
t/a HSBC (2)		 150 years
from
17/03/1995 on
a full repairing
and insuring
lease		 £6,660 (3) 17/03/2020
and five
yearly
Total
498.40 sq m
(5,362 sq ft)
     £6,660 (3)  

(1) WRP Management Limited is a subsidiary of Intu Shopping Centres Plc (Source: Experian Group 05/11/2018).
(2) The property has been sublet to HSBC Bank Plc for a term of 25 years from 17/03/1995 at a passing rent of £133,200 p.a.x.
(3) The rent is currently 5% of the underlease rent. In the absence of any form of occupation, the rent will be adjusted in accordance with the terms of the lease. Please refer to the legal pack for further information.

Contacts

Seller's Solicitors
DAC Beachcroft LLP 3 Hardman Street
Manchester
M3 3HF
Liz Donnelly 0161 934 3243ldonnelly@dacbeachcroft.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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