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For Sale£290,000.00

Freehold Bank & Office Investment - Horncastle

Residential, Offices, Office
Property type: Residential, Offices, Office
Tenure: Development Opportunity, Investment Opportunity, For Sale Freehold
Price: £290,000.00
Location: 25a High Street, LN9 5HP
ADDRESS: 25 High Street, Horncastle, Lincolnshire, LN9 5HP
• Let to HSBC Bank Plc -2265 sq. ft.
• 1870 sq. ft. of offices on upper floors
• 4 Car parking spaces to the rear
• Prominent Town Centre Location.
• Opposite public car park
• Bank have exercised option to leave on 17 June 2018
• Residential Conversion opportunity
LOCATION
Horncastle is located on the A158 main road between Skegness, 22 miles to the east, and Lincoln 30 miles to the west.
SITUATION
The property, in the town centre, is situated on the south side of High Street close to the junction with Church Lane overlooking a
public car park at Market Place. Occupiers close by include NatWest, Barclays, Co-Op Pharmacy, and Lloyds TSB.
DESCRIPTION
The property is arranged on basement, ground and two upper floors to provide a ground floor banking hall with basement storage.
The self-contained first and second floors, accessed via High Street, provide office accommodation with kitchen and WC.
The property has 4 car parking spaces to the rear
ACCOMMODATION
No 25 Bank : Gross Frontage:40'0'',Shop Depth: 41'11'',Built Depth: 63'11'',Basement: 312 Sq. Ft.,Total 2365 sq. ft.
No 25 A Office: First Floor: 689 Sq. Ft.,Second Floor: 775 Sq. Ft,Total 1870 sq ft
Tenancy:
No 25 Bank: Let to HSBC Bank Plc for 15 years from 17 June 2008 at a current rent of £19,500 p.a.. Rent review every 5th year FR & I subject to a schedule of condition. The lease contains a tenant's option to break on 17 June 2018 and the bank have given notice to leave on this date
No 25 A Office: Let to TJS Online Ltd for 6 years from 12.12.2009 at a current rent of £6375 p.a. IR & I. Reversion with tenant holding over.
RENT: £25875 p.a. TENURE: Freehold VAT IS: Not Applicable
PRICE: Offers in excess of £ 290,000 – 8.5% Net
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