Lot

21

4A Commercial Way, Woking, Surrey, GU21 6ET

Bidding Closed

SOLD FOR

£620,000

Property Enquiries

Oliver Childs

Oliver.Childs@bidx1.com
+44 (0) 20 3929 8289

Viewings/Registration Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Liz Hailey

lhailey@bonnetts.co.uk
01344 623 388

Description

Map

Viewings


Property Summary
  • Prominent freehold bank investment
  • Entirely let to HSBC Bank Plc until 2020
  • Tenant in occupation for approximately 40 years
  • Potential residential conversion of the first and second floors (subject to consents)
  • Pedestrianised town centre position
  • Close to rail station
  • Current rent £42,750 per annum
  • In the same family ownership for over 40 years
Tenure

Freehold

Location

Woking is an affluent Surrey town situated in the London commuter belt midway between Weybridge and Guidford with a residential population of 85,000. The town benefits from a frequent rail service to London Waterloo (from 24 minutes) and has established itself as one of Surreys major commercial and retail centres which benefits from its proximity to the A3, M3 and M25. Woking is benefitting from significant town centre investment and regeneration, including the Victoria Square development.

Situation

The property is situated within the busy and pedestrianised town centre on the south side of Commercial Way, close to the entrance to Wolsey Way Shopping Centre and a short walk from the rail station. Nearby occupiers include Lloyds Bank, Boots the Chemist, Bills, Carluccios, WH Smith, Robert Dyas and Halifax.

Description

The property comprises a prominent three storey town centre building arranged as a ground floor banking hall with offices on the first and second floors that all interconnect with the adjoining building (No.6). The property is currently accessed via the adjoining building that is also occupied by HSBC and held on a coterminous lease.

There is an accessway from Commercial Way on the right hand side of the banking hall (ATMs) and beneath the first and second floors leading to a rear yard.

Planning

HSBC Bank Plc (formerly Midland Bank Plc) took occupation of the entire property on and around 1980. They were subsequently granted landlords consent to remove part of the ground floor banking hall to provide an accessway to the rear yard for the property. There was previously a formal right of way to the rear yard from 6 Commercial Way. The landlord and tenant agreed that for the calculation of the banking hall including for the purposes of any rent review the accessway area would be treated as office space (A2). For further information please see legal pack.

There is potential to convert the first and second floor offices to residential (two x 2 bedroom flats), subject to possession and any planning consents. Indicative plans are available in the legal documentation for identification only.

For further information visit Woking Borough Council (01483 755 855) www.woking.gov.uk

VAT
VAT Not Applicable.
Property Table
Unit Floor Sq M Sq Ft Tenant Lease terms Rent (£p.a.)
4A Commercial Way Ground 31.05 335 HSBC Bank Plc (1) 10 years from 25/03/2010 £42,750
  First 55.74 600      
  Second 60.39 650      
(1) For the year ending 31st December 2017, HSBC Bank Plc reported a pre-tax profit of £2.37 billion and shareholders funds of £44.049 billion (Source: Company Accounts 2017).  HSBC is one of the worlds largest banks and financial services organisations.  Further information can be found at www.hsbc.com. 
EPC

Please refer to legal documentation

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.







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