Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On the Instructions of The Cooperative Estates
Property Information
Location
Miles
9 miles north-west of Swansea 50 miles north-west of Cardiff
Roads
A48, A4138, M4 (Junction 48)
Rail
Pontarddulais Rail
Air
Cardiff International Airport
Situation
Pontarddulais is a town some 9 miles north-west of Swansea and within close proximity of Junction 48 of the M4 Motorway. The property is situated within the town centre adjacent to Tesco Superstore, the town’s main supermarket, with a number of other local retailers located nearby.
Tenure
Freehold.
Location
Miles
9 miles north-west of Swansea 50 miles north-west of Cardiff
Roads
A48, A4138, M4 (Junction 48)
Rail
Pontarddulais Rail
Air
Cardiff International Airport
Situation
Pontarddulais is a town some 9 miles north-west of Swansea and within close proximity of Junction 48 of the M4 Motorway. The property is situated within the town centre adjacent to Tesco Superstore, the town’s main supermarket, with a number of other local retailers located nearby.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with 4 x two bedroom residential flats on the first floor. The property benefits from a large car park to the rear, accessed via Cambrian Place.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor retail unit with 4 x two bedroom residential flats on the first floor. The property benefits from a large car park to the rear, accessed via Cambrian Place.
Six Week Completion
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground
Retail/Ancillary
640 sq m
(6,890 sq ft)
THE FACTORY SHOP LIMITED (1)
Approx 10 years from 03/02/2015 until 25/01/2025
£50,000 rising to £56,750 in 2020
03/02/2020 (2)
Ground First
Entrance Residential
4 x Two Bedroom Flats
FAMILY HOUSING ASSOCIATION
25 years from 26/02/1996
£3,689
26/02/2006 and 5 yearly (3)
Totals
640 sq m
(6,890 sq ft)
£53,689
(1) For the year ending 30th March 2014, The Factory Shop Limited reported a turnover of £162,983,000, pre-tax profits of £1,785,000 and a total net worth of £38,501,000. (Source: www.riskdisk.com 22/07/2015) (2) For the purposes of clarification, The Factory Shop Limited is currently benefiting from a rent free period. The lease provides rental increases to £50,000 p.a. from 3rd May 2016 and to £56,750 p.a. from 3rd February 2020. The seller has agreed to adjust the completion monies so that the unit will effectively produce £50,000 p.a.x. from completion of the sale. (3) As to the Family Housing Association lease, the 2006 and 2011 rent reviews are outstanding. The lease is excluded from the Landlord & Tenant Housing Act 1954.
