Adjacent to The Clock Tower and opposite Highcross and Haymarket Shopping Centres
Nearby occupiers include Marks & Spencer, Pret a Manger, Waterstones, Nationwide, Barclays and Sports Direct
Lot 8
Auction 27th March 2024
Rent £200,000 per Annum Exclusive
Status Sold
Price £2,070,000
Sector Bank
Auction Venue Live Streamed Auction
Property Information
Location
Miles
21 miles south of Nottingham, 31 miles north-east of Birmingham
Roads
A6, A47, A563, M1 (Junction 21)
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation
The property is located in the heart of Leicester City Centre, occupying a prominent pedestrianised corner position at the junction of Gallowtree Gate and Humberstone Gate, overlooking The Clock Tower. The Highcross Shopping Centre and Haymarket Shopping Centre are located directly opposite the property with other neighbouring occupiers including Marks & Spencer, Pret a Manger, Waterstones, Nationwide, Barclays and Sports Direct with a number of other national retailers and restaurants being represented nearby.
Tenure
Freehold.
Location
Miles
21 miles south of Nottingham, 31 miles north-east of Birmingham
Roads
A6, A47, A563, M1 (Junction 21)
Rail
Leicester Railway Station
Air
East Midlands Airport
Situation
The property is located in the heart of Leicester City Centre, occupying a prominent pedestrianised corner position at the junction of Gallowtree Gate and Humberstone Gate, overlooking The Clock Tower. The Highcross Shopping Centre and Haymarket Shopping Centre are located directly opposite the property with other neighbouring occupiers including Marks & Spencer, Pret a Manger, Waterstones, Nationwide, Barclays and Sports Direct with a number of other national retailers and restaurants being represented nearby.
Tenure
Freehold.
Description
The property comprises a substantial Bank building currently arranged to provide a ground floor banking hall with basement, first, second and third floor ancillary and office accommodation.
This branch has recently undergone a substantial refurbishment by the tenant.
VAT
VAT is applicable to this lot.
Completion Period
Five week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial Bank building currently arranged to provide a ground floor banking hall with basement, first, second and third floor ancillary and office accommodation.
This branch has recently undergone a substantial refurbishment by the tenant.
VAT
VAT is applicable to this lot.
Completion Period
Five week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m
Floor Areas Approx sq ft
Tenant
Term
Rent p.a.x.
Ground Basement First Second Third
Banking Hall Ancillary Office Office Office
278.30 24.30 259.50 259.50 275.50
(2,995) (261) (2,793) (2,793) (2,965)
HSBC UK BANK PLC (1)
5 years from 07/07/2021 (3)
£200,000 (4)
Total
1,097.30
(11,807) (2)
£200,000
(1) For the year ending 31/12/2022 HSBC UK Bank PLC reported a Turnover £9,589,000,000 Pre-Tax Profit of £3,638,000,000 and a Net Worth of £17,908,000,000 (NorthRow 29/02/2024). (2) The floor areas stated above are those published by the Valuation Office Agency (www.voa.gov.uk). (3) The tenant has not exercised their July 2024 break option. (4) Prior to the lease renewal with HSBC in July 2021, the passing rent was £480,000 pa.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
