109 Union Street Oldham, Greater Manchester OL1 1RT


HSBC BANK


Location Estimated District Population: 215,000 Miles: 6 miles south of Rochdale 8 miles east of Manchester 12 miles south-east of Bury


Roads: A67(M), A627, M62


Position The property is located in a prominent corner position on Union Street at its junction with Queen Street and Retiro Street in the heart of Oldham’s business district and close to the Town Square Shopping Centre.


Nearby: Connexions Advice Centre, Library, Theatre and town centre car parks.


Description BANK arranged on the ground, basement, mezzanine and first floors.


Tenure Freehold.


Tenant HSBC BANK PLC (1)


Lease Term: 15 years from 20th June 2008 Basis: FRI (2) Rent: £55,000 per annum Reviews: 2013 and 2018 Expiry: June 2023 (3)


VAT is not applicable to this lot.


Present Accommodation (approximate areas) (4) Floor


Accommodation


Ground Basement Mezzanine First


Banking Hall/Ancillary Ancillary Offices/Ancillary Offices/Ancillary


Total Commercial Area Net Internal Areas


413.40 sq m 203.45 sq m 85.00 sq m 110.08 sq m


811.93 sq m


(4,450 sq ft) (2,190 sq ft) (915 sq ft)


(1,185 sq ft) (8,740 sq ft)


(1) HSBC Bank plc for the year to 12/11 reported pre-tax profits of £3.1 billion and a net worth of £20.3 billion. (Source: One Source One-Stop Report). (2) The lease is drawn on a full repairing and insuring basis but subject to a schedule of condition – please see legal documentation. (3) The lease incorporates a tenant’s option to break in 2018 and also a tenant option to renew the lease for a further term of 15 years – please see legal documentation.


(4) Areas provided by the Vendor. For identification purposes only – please see title documentation.


Extract reproduced from the Ordnance Survey mapping with the permission of The Controller of Her Majesty’s Stationery Office © Crown copyright ES 755990


Rent £55,000 pa


Prominent and Imposing Freehold Bank Investment • Entirely let to HSBC Bank plc


• Lease expires June 2023 (subject to option)


• Substantial and impressive town centre bank


• VAT- free bank investment and 6Week Completion Available


The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor Harold Benjamin Solicitors. t: 0208 872 3033. e: vijay.parikh@haroldbenjamin.com Ref: V Parikh Esq.


45


LOT 32


UNION STREET


109


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