1 - 3 Market Place Willenhall West Midlands WV13 2AA

1 - 3 Market Place
Willenhall
West Midlands
WV13 2AA

Freehold Bank Investment

Entirely let to HSBC Bank Plc until 2023 (no breaks)
Prominent corner position on pedestrianised Market Place
Annual Rent Reviews linked to RPI rising to a minimum of £29,029.67 pa in June 2022
Nearby occupiers include Co-operative Funeralcare, Lloyds Bank, Greggs and Ladbrokes
VAT-free investment

Lot
22
Auction
5th December 2018
Rent
£26,299 per Annum Exclusive
Status
Sold
Price
£296,000
Sector
Bank
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)
Prominent corner position on pedestrianised Market Place
Annual Rent Reviews linked to RPI rising to a minimum of £29,029.67 pa in June 2022
Nearby occupiers include Co-operative Funeralcare, Lloyds Bank, Greggs and Ladbrokes
VAT-free investment

Lot 22
Auction 5th December 2018
Rent £26,299 per Annum Exclusive
Status Sold
Price £296,000
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: 3.6 miles east of Wolverhampton; 4.5 miles west of Walsall
Roads: A454, A41, M5, M6
Rail: Wolverhampton Train Station
Air: Birmingham International Airport

Situation

Willenhall is a town in the Metropolitan Borough of Walsall, situated between Wolverhampton and Walsall and just 14 miles from Birmingham city centre. The property is located in the heart of the town centre and is on the west side of Market Place. Nearby occupiers include Co-operative Funeralcare, Lloyds Bank, Greggs and Ladbrokes.

Tenure

Freehold.

Location

Miles: 3.6 miles east of Wolverhampton; 4.5 miles west of Walsall
Roads: A454, A41, M5, M6
Rail: Wolverhampton Train Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property is of a traditional period construction with predominantly hard frontage, arranged over four levels. There is a side access to the basement from New Road.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £275,000

Viewings

A block viewing will be held for this property. Please refer to the auctioneer for the scheduled date and time.

Completion Period

Six Week Completion Available

EPC

Available from the legal pack at www.acuitus.co.uk

Description

The property is of a traditional period construction with predominantly hard frontage, arranged over four levels. There is a side access to the basement from New Road.

VAT

VAT is not applicable to this lot.

Note

Reserve not to exceed £275,000

Viewings

A block viewing will be held for this property. Please refer to the auctioneer for the scheduled date and time.

Completion Period

Six Week Completion Available

EPC

Available from the legal pack at www.acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Ground Basement First Second	Banking Hall Ancillary Ancillary Ancillary	204.66 sq m 7.90 sq m 138.14 sq m 62.70 sq m	(2,203 sq ft) (85 sq ft) (1,487 sq ft) (675 sq ft)	HSBC BANK PLC (1) (2)	15 years from 04/06/2008 until 03/06/2023 on a full repairing and insuring lease	£26,299	Annual RPI linked uplifts rising to a minimum of: 04/06/2019 £26,956.94 04/06/2020 £27,630.86 04/06/2021 £28,321.63 04/06/2022 £29,029.67 (3)
Total		413.40 sq m	(4,450 sq ft)			£26,299

(1) For the year ending 31st December 2017, HSBC Bank plc did not report a turnover, but reported pre-tax profits of £2.37bn, shareholders’ funds of £44.049bn and a net worth of £38.113bn (Source: Experian Group 10/08/2018). HSBC is one of the world’s largest banking and financial services organisations – further information can be found at www.hsbc.com
(2) The tenant is not currently in occupation.
(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.