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Lot 10 Click here for addendum

Gross Yield 11.7%
6 Week Completion

Situation

Located in Swansea's prime retail thoroughfare, adjacent to Peacocks, opposite Bon Marché and BetFred and amongst such other multiples as Waterstones, Greggs, NatWest and Poundland.
Swansea is the commercial centre of South Wales and lies approx. 34 miles west of Cardiff on the M4 (Junctions 42-47).

Property

A mid terraced building comprising a Large Ground Floor Shop with internal access to Ancillary Accommodation on first, second and third floor levels. The property includes a roller shutter door at the rear.

Accommodation

Large Ground Floor Shop
Gross Frontage 36'2"
Internal Width 32'8"
Shop Depth 78'4"
Built Depth 126'0"
Sales Area Approx. 2,440 sq ft
Store Area Approx. 1,075 sq ft
First Floor Ancillary
Area Approx. 3,605 sq ft
WCs
Second Floor Ancillary
Area Approx. 3,660 sq ft
Third Floor Ancillary
Area Approx. 765 sq ft
Total Area Approx. 11,545 sq ft

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Caversham Finance Ltd t/a Brighthouse (Electrical retailers with over 240 branches) for a term of 5 years from 4th October 2019 at a current rent of £35,000 per annum exclusive (see Notes 1 & 2).

Mutual Break October 2022

Note 1: This lease is a renewal of a previous lease and the rent was reduced from £70,000 p.a.

Note 2: The lease is excluded from the renewal provision of s.24-28 of the L & T Act 1954.

*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.

238/239 Oxford Street, Swansea, West Glamorgan SA1 3BL