347/349 Green Street London E13 9AS

347/349 Green Street
London
E13 9AS

Majority Freehold Bank and Residential Investment

Entirely Let to HSBC Bank plc until 2022 (subject to option)
Prominent corner position. Approximately 500 metres form West Ham United FC Stadium.
Nearby occupiers include Tesco Metro, Superdrug, Nationwide Building Society, Greggs and Iceland
Includes a Self Contained 2 Bedroom Flat
Six Week Completion

Lot
31
Auction
11th July 2013
Rent
£60,000 per Annum Exclusive
Status
Sold
Price
£825,000
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Majority Freehold Bank and Residential Investment

Entirely Let to HSBC Bank plc until 2022 (subject to option)
Prominent corner position. Approximately 500 metres form West Ham United FC Stadium.
Nearby occupiers include Tesco Metro, Superdrug, Nationwide Building Society, Greggs and Iceland
Includes a Self Contained 2 Bedroom Flat
Six Week Completion

Lot 31
Auction 11th July 2013
Rent £60,000 per Annum Exclusive
Status Sold
Price £825,000
Sector
Bank
Auction Venue
Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 9 miles East of Central London
Roads: A114, A117, A118, A124
Rail: Upton Park Underground Station (Circle Line, District Line, Hammersmith & City Line)
Air: London City Airport, London Heathrow, London Stansted

Situation

Green Street is a highly popular East London retail street and benefits from a diverse and cosmopolitan demographic. The property is situated in a prominent corner position on the eastern side of Green Street at its junction with Crescent Road and approximately 150 metres west of Upton Park Underground station and Queens Market. Green Street is also home to West Ham United Premiership FC, the stadium is some 500 metres form the property.

Tenure

Freehold. Majority Freehold. A part of the property is held on a 99 year lease form 31st July 1974 at a rent of £10 per annum.

Location

Miles: 9 miles East of Central London
Roads: A114, A117, A118, A124
Rail: Upton Park Underground Station (Circle Line, District Line, Hammersmith & City Line)
Air: London City Airport, London Heathrow, London Stansted

Situation

Tenure

Freehold. Majority Freehold. A part of the property is held on a 99 year lease form 31st July 1974 at a rent of £10 per annum.

Description

The property is an attractive traditional built Bank comprising a Banking hall and ancillary accommodation on the ground floor, ancillary accommodation on the first floor and a self contained 2 bedroom residential flat on the second floor. The flat is accessed via Green Street.

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	Review
Ground	Banking Hall/ Ancillary	125.66 sq m 41.50 sq m	(1,352 sq ft) (446 sq ft)	HSBC BANK PLC (1)	15 years from 27/03/2007 until 2022 on a full repairing and insuring lease (2)	£60,000	27/03/2017
First Second	Ancillary Residential 3 room flat	78.48 sq m 53.53 sq m	(845 sq ft) (576 sq ft)
Totals		299.17 sq m	(3,219 sq ft)			£60,000

(1) For the year ending 31/12/2012, HSBC Bank plc reported pre-tax profits of £1,004,000,000 and a total net worth of £23,849,000,000.(Source: www.riskdisk.com 03/06/2013)
(2) The lease is subject to a tenant option to determine the lease on 26th March 2017 and a schedule of condition.