231 High Street Chatham Kent ME4 4BQ

231 High Street
Chatham
Kent
ME4 4BQ

Freehold Bank and Residential Investment

Subject to note (3) below
Entirely let to HSBC Bank plc until 2020
Prime pedestrianised retail position
Close to Pentagon Shopping Centre
Situated opposite Debenhams with other nearby occupiers including Santander Bank, Lloyds TSB, Burger King, Specsavers and McDonald’s
Six Week Completion Period Available

Lot
16
Auction
24th May 2012
Rent
£70,000 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

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Freehold Bank and Residential Investment

Subject to note (3) below
Entirely let to HSBC Bank plc until 2020
Prime pedestrianised retail position
Close to Pentagon Shopping Centre
Situated opposite Debenhams with other nearby occupiers including Santander Bank, Lloyds TSB, Burger King, Specsavers and McDonald’s
Six Week Completion Period Available

Lot 16
Auction 24th May 2012
Rent £70,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector
Bank
Auction Venue
Millennium Hotel
39-44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 36 miles south-east of Central London, 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells
Roads: A2, M2 (Junction 2 and 3)
Rail: Chatham Railway Station
Air: London Gatwick Airport, London City Airport

Situation

The property is situated on the north side of High Street, Chatham’s prime pedestrianised retail thoroughfare. The property is situated close to the Pentagon Shopping Centre and opposite Debenhams Department Store with other nearby occupiers including Santander Bank, Lloyds TSB, Burger King, Specsavers, and McDonald’s.

Tenure

Freehold.

Location

Miles: 36 miles south-east of Central London, 10 miles north of Maidstone, 29 miles north-east of Royal Tunbridge Wells
Roads: A2, M2 (Junction 2 and 3)
Rail: Chatham Railway Station
Air: London Gatwick Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property comprises ground floor banking hall accommodation with a two room flat on the first floor and a four room maisonette on the second and third floors. The residential accommodation is accessed via the rear of the property from Solomons Road.

VAT

VAT is not applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is not applicable to this lot.

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
Ground First Second and Third	Retail Ancillary Residential Residential	132.83 sq m	(1,430 sq ft)	HSBC BANKPLC (1) (2)	25 years from 29/09/1988 and a reversionary lease for 7 years from 30/09/2013 until 2020	£70,000 (3)
		38.37 sq m	(413 sq ft)
		2 Room Flat 4 Room Maisonette
Totals		171.20 sq m	(1,843 sq ft)			£70,000

(1) For the year ending 31st December 2010, HSBC Bank plc reported a pre-tax profit of £3,111,000,000 and a total net worth of £20,095,000,000 (Source: www.riskdisk.com 02/04/2012).
(2) The tenant has declined the right of pre-emption.
(3) The rental income from the reversionary lease will be £63,000 p.a.x.