Let to Poundworld Retail Limited on a new 10 year lease until 2024 (no breaks)
Prominent town centre position in the pedestrianised Market Square
Nearby occupiers include HSBC Bank, Halifax Bank, Specsavers Optician and Greggs
Located opposite St Tydfils Shopping Centre and Beacons Place Shopping Centre
Lot 18
Auction 11th December 2014
Rent
Status Sold Prior
Price
Sector High Street Retail
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of a Major Bank
Property Information
Location
Miles
24 miles north of Cardiff
38 miles east of Swansea
63 miles north-west of Bristol
Roads
A4054, A4102, A465, A470
Rail
Merthyr Tydfil Railway Station
Air
Cardiff Airport
Situation
The property, an island site with four frontages, is situated in an extremely prominent position within the prime pedestrianised section of High Street/Market Square. The property is situated opposite an entrance to St Tydfil Shopping Centre on one side and opposite Beacons Place Shopping Centre on the other which leads to the Tesco Extra supermarket and the rail station providing considerable additional footfall. Other nearby occupiers include HSBC Bank, Halifax Bank, Specsavers Optician and Greggs Bakers.
Tenure
Freehold.
Location
Miles
24 miles north of Cardiff
38 miles east of Swansea
63 miles north-west of Bristol
Roads
A4054, A4102, A465, A470
Rail
Merthyr Tydfil Railway Station
Air
Cardiff Airport
Situation
The property, an island site with four frontages, is situated in an extremely prominent position within the prime pedestrianised section of High Street/Market Square. The property is situated opposite an entrance to St Tydfil Shopping Centre on one side and opposite Beacons Place Shopping Centre on the other which leads to the Tesco Extra supermarket and the rail station providing considerable additional footfall. Other nearby occupiers include HSBC Bank, Halifax Bank, Specsavers Optician and Greggs Bakers.
Tenure
Freehold.
Description
The property comprises a retail unit over ground and first floors with ancillary accommodation on the remainder of the first floor.
NB. The letting to Poundworld Retail Limited concluded after competition from another major discount retailer.
More than 2,000 shoppers attended Poundworld’s opening day on October 30th, making it one of the most popular openings to date. (Source: Poundworld Website)
Six Week Completion
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 retail unit over ground and first floors with ancillary accommodation on the remainder of the first floor.
NB. The letting to Poundworld Retail Limited concluded after competition from another major discount retailer.
More than 2,000 shoppers attended Poundworld’s opening day on October 30th, making it one of the most popular openings to date. (Source: Poundworld Website)
Six Week Completion
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
Review/(Reversion)
Ground First
Retail Retail/Ancillary
510.43 sq m 561.51 sq m
(5,497 sq ft) (6,044 sq ft)
POUNDWORLD RETAIL LIMITED (1)
10 years from 06/10/2014 on a full repairing and insuring lease
£125,000
06/10/2019 (05/10/2024)
Totals
1,071.94 sq m
(11,541 sq ft)
£125,000
(1) For the year ending 31st March 2014, Poundworld Retail Limited reported a turnover of £345,259,000, pre-tax profits of £5,002,000 and a total net worth of £11,498,000 (Source: www.riskdisk.com 03/11/2014). Poundworld now trade from over 180 stores nationwide, employing over 5,100 employees (Source: Poundworld Website).