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Lot 21

In same ownership for 30 years
Gross Yield 10%

Situation

Occupying a prominent trading position adjacent to Santander, opposite Nationwide and amongst such other multiple occupiers as Subway, Coral, Lloyds Bank as well as being close to Middleton Grange Shopping Centre. In addition, the property backs onto a large public car park.
Hartlepool is a coastal town which lies some 13 miles north-east of Darlington and 9 miles north of Middlesbrough and enjoys excellent road access via the A19.

Property

A mid terraced building comprising a Ground Floor Bank with internal access to Ancillary Store/Offices on the first floor and hatch access to Further Accommodation on the second floor.

Accommodation

Ground Floor Bank
Gross Frontage 21'11”
Internal Width 20'2”(max)
Bank Depth 44'7”
Built Depth 57'11”
Rear Office Area Approx. 255 sq ft
First Floor Ancillary
Area Approx. 520 sq ft
Second Floor Area Approx. 450 sq ft

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to HSBC Bank plc (T/O for Y/E 31/12/17 £19.76bn, Pre-Tax Profit £2.37bn and Shareholders' Funds £43.46bn) for a term of 10 years from 30th November 2017 (in occupation for over 30 years - renewal of a previous lease) at a current rent of £17,000 per annum exclusive.

Rent Review and Tenant's Break 2022

Note: 6 Week Completion.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

112 York Road, Hartlepool, Cleveland TS26 9DF