Entirely let to HSBC Bank Plc until 2023 (no breaks)
Town centre location, 2.6 miles from Sheffield city centre
Annual Rent Reviews linked to RPI rising to a minimum of £32,658.38 pa in June 2022
Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon public house
VAT-free investment
Lot 44
Auction 5th December 2018
Rent
Status Sold
Price £258,000
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
2.6 miles north-west of Sheffield city centre
8 miles west of Rotherham
Roads
A629, A57, M1
Rail
Sheffield Train Station
Air
Manchester Airport
Situation
Hillsborough is a popular commuter suburb in north-west Sheffield, near the Peak District National Park and just 2.6 miles from Sheffield city centre. The property occupies a prominent position on Langsett Road, which runs parallel to the A61. Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon
Tenure
Freehold.
Location
Miles
2.6 miles north-west of Sheffield city centre
8 miles west of Rotherham
Roads
A629, A57, M1
Rail
Sheffield Train Station
Air
Manchester Airport
Situation
Hillsborough is a popular commuter suburb in north-west Sheffield, near the Peak District National Park and just 2.6 miles from Sheffield city centre. The property occupies a prominent position on Langsett Road, which runs parallel to the A61. Nearby occupiers include Costa Coffee, William Hill and JD Weatherspoon
Tenure
Freehold.
Description
The property is a two storey building and comprises a ground floor banking hall with first floor office and basement ancillary accommodation.
VAT
VAT is not applicable to this lot.
Note
Reserve not to exceed £250,000
Viewings
A block viewing will be held for this property. Please refer to the website 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 a two storey building and comprises a ground floor banking hall with first floor office and basement ancillary accommodation.
VAT
VAT is not applicable to this lot.
Note
Reserve not to exceed £250,000
Viewings
A block viewing will be held for this property. Please refer to the website 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
Banking Hall Ancillary Office
161.59 sq m 89.80 sq m 71.90 sq m
(1,739 sq ft) (966 sq ft) (774 sq ft)
HSBC BANK PLC (1) (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 £30,326.55 04/06/2020 £31,084.72 04/06/2021 £31,861.84 04/06/2022 £32,658.38 (3)
Total
323.29 sq m
(3,479 sq ft)
£29,587
(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.
NB: Not measured by Acuitus. Areas taken from the VOA at www.voa.gov.uk