HSBC, 26 Clumber Street, Nottingham, Nottingham, NG1 3GA

Description
26 Clumber Street & 4 Lincoln Street occupies a corner position with prime frontage to Clumber Street and a highly prominent return to Lincoln Street. The property comprises approximately 11,417 sq ft and is arranged over basement, ground and two upper floors.

Originally constructed in the late 19th century, the property was subject to extensive modernisation works in 2009. There is a Grade II listing of part.

HSBC occupy the whole of the building with customer areas at ground and first floor levels with office accommodation above

Location
The property occupies a highly prominent, prime corner position at the centre of Clumber Street.
Nottingham’s prime pedestrianised retail thoroughfare and one of the busiest shopping streets in the UK.
The property benefits from exceptional visibility and footfall.
Positioned between the Victoria Centre and the retail pitches to the south of the city centre.
Notable neighbouring retailers include major brands such as JD Sports, Footlocker, Superdrug, McDonalds and Zara.

Tenancy
22-26 Clumber Street & 4 Lincoln Street is fully let on a single lease to HSBC Bank PLC for a term of 20 years, expiring 16th October 2028 (approx. 3.4 years unexpired) at a passing rent of £650,000 pa.

Covenant
HSBC UK is a major UK bank and a wholly owned subsidiary of HSBC Holdings PLC. It operates in the UK with a strong presence in retail, commercial, and wealth management banking. HSBC UK has a large customer base, with over 14.75 million active customers and a significant number of employees.

Price
We are instructed to seek offers in excess of £5,075,000. A purchase of this level would reflect an attractive 12.0% NIY, allowing for purchaser’s costs at 6.59%.