Let to National Car Parks Limited on a new 35 year lease until 2052 (no breaks)
5 yearly RPI Rent Reviews (3)
Comprises approximately 0.77 hectares (1.9 acres)
Future Development Potential (subject to lease and consents)
Town centre location within walking distance of Pontypridd Railway Station and Pontypridd's main shopping facilities
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 35
Auction 30th March 2017
Rent £80,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Motor Trade/Petrol Station
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles east of Caerphilly, 11 miles north-west of Cardiff
Roads
A470, A4058
Rail
Pontypridd Railway Station
Air
Cardiff International Airport
Situation
The property is located on the western side of Chapel Street, very close to Taff Street, Pontypridd's prime retail thoroughfare. Taff Street houses occupiers including New Look, Boots the Chemist, Costa Coffee, Topshop and River Island. The property also benefits from being within close proximity to the proposed Taff Vale Development which will provide the town with 12,600 sq m of new floor space comprising leisure and office accommodation (Source: www.rctcbc.gov.uk 23/02/2017) .
Tenure
Freehold.
Location
Miles
6 miles east of Caerphilly, 11 miles north-west of Cardiff
Roads
A470, A4058
Rail
Pontypridd Railway Station
Air
Cardiff International Airport
Situation
The property is located on the western side of Chapel Street, very close to Taff Street, Pontypridd's prime retail thoroughfare. Taff Street houses occupiers including New Look, Boots the Chemist, Costa Coffee, Topshop and River Island. The property also benefits from being within close proximity to the proposed Taff Vale Development which will provide the town with 12,600 sq m of new floor space comprising leisure and office accommodation (Source: www.rctcbc.gov.uk 23/02/2017) .
Tenure
Freehold.
Description
The property comprises a surface level car park for approximately 219 cars benefiting from a site area of approximately 0.77 hectares (1.9 acres).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a surface level car park for approximately 219 cars benefiting from a site area of approximately 0.77 hectares (1.9 acres).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Use
Site Area
Tenant
Term
Rent p.a.x
Reviews
Car Park
0.77 hectares
(1.9 acres)
NATIONAL CAR PARKS LIMITED (1)
35 years from 31/03/2017 until 35/03/2052 on a full repairing and insuring lease
£80,000 (2)
31/03/2022 & 5 yearly thereafter (3)
Totals
0.77 hectares
(1.9 acres)
£80,000
(1) National Car Parks is the UK's largest and longest-standing private car park owner with over 150,000 spaces across more than 500 car parks in towns, cities, airports and London Underground and National Rail stations (www.ncp.co.uk 24/02/2017). For the year ending 25th March 2016, National Car Parks Limited reported a turnover of £202,703,000, pre-tax profits of £28,001,000 and a total net worth of £186,896,000 (Source: Experian Group 23/02/2017). (2) The lease to National Car Parks Limited is agreed but not yet completed. The tenant will benefit from paying half rent until 31/03/2018. The vendor has agreed to adjust the completion monies so that the property produces £80,000 per annum from completion of the sale. (3) The rent reviews are 5 yearly and linked to RPI, capped and collared between 2% and 4% per annum.
