Unit C Lakeside Technology Park Phoenix Way, Enterprise Park Swansea SA7 9FF

Unit C Lakeside Technology Park
Phoenix Way, Enterprise Park
Swansea
SA7 9FF

Modern Office Investment

  • Let to South West Police Authority until 2022 (no breaks)
  • Tenant option to determine the lease in February 2017 NOT exercised
  • Comprises approximately 806.28 sq m (8,680 sq ft)
  • Swansea’s principle business park some 2 miles south-west of the M4
  • Nearby occupiers include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea
  • Producing £59,125 per annum exclusive (Gross) £55,403 (Net) subject to note 1
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot
    102
  • Auction
    13th October 2016
  • Rent
    £59,125 per Annum Exclusive
  • Status
    Sold
  • Price
    £400,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On the Instructions of Joint LPA Receivers
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Modern Office Investment

  • Let to South West Police Authority until 2022 (no breaks)
  • Tenant option to determine the lease in February 2017 NOT exercised
  • Comprises approximately 806.28 sq m (8,680 sq ft)
  • Swansea’s principle business park some 2 miles south-west of the M4
  • Nearby occupiers include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea
  • Producing £59,125 per annum exclusive (Gross) £55,403 (Net) subject to note 1
  • For the Seller's Legal Pack, please click the Property Documents tab below
  • Lot 102
  • Auction 13th October 2016
  • Rent
  • Status Sold
  • Price £400,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Squafre
    London W1H 7BG
  • On the Instructions of Joint LPA Receivers

Property Information

Location
Miles
3 miles north-east of Swansea
38 miles west of Cardiff
Roads
M4 (Junction 44), A465, A483
Rail
Swansea Railway Station
Air
Cardiff Airport
Situation

The property is situated on Swansea's well established principle and business park some 3 miles north east of Swansea City Centre and some 2 miles south of the M4 (Junction 44). Nearby occupiers on Swansea Enterprise Park include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea.

Tenure

Long Leasehold. Held until 2110 at a current rent reserved of £3,722 per annum exclusive. The rent is subject to open market rent reviews to ground rental value. The next review due on 25th March 2020.

Location
Miles
3 miles north-east of Swansea
38 miles west of Cardiff
Roads
M4 (Junction 44), A465, A483
Rail
Swansea Railway Station
Air
Cardiff Airport
Situation

The property is situated on Swansea's well established principle and business park some 3 miles north east of Swansea City Centre and some 2 miles south of the M4 (Junction 44). Nearby occupiers on Swansea Enterprise Park include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea.

Tenure

Long Leasehold. Held until 2110 at a current rent reserved of £3,722 per annum exclusive. The rent is subject to open market rent reviews to ground rental value. The next review due on 25th March 2020.

Description

The property comprises a modern office building with accommodation on ground and first floor and benefits from car parking for approximately 13 cars.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

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 modern office building with accommodation on ground and first floor and benefits from car parking for approximately 13 cars.

VAT

VAT is not applicable to this lot.

Note

This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

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 Reversion
Ground
First
Office
Office
403.14 sq m
403.14 sq m
(4,380 sq ft)
(4,380 sq ft)
SOUTH WALES
POLICE
AUTHORITY
15 years from 14/02/2007 on a full
repairing and insuring lease
£59,125 (1) 13/02/2022
Totals   806.28 sq m (8,680 sq ft)     £59,125 (1)  

(1) There is a tenant option to determine the lease on 14th February 2017. The tenant has NOT exercised the tenant option to determine the lease and therefore the tenant will benefit from a reduced rent of £52,725 per annum exclusive from 14/02/2017 until the end of the term.

Property Documents

  • Catalogue Page
    Updated Date
    30.10.19
    File Size
    695 KB
    View PDF
  • Site Plan
    Updated Date
    30.10.19
    File Size
    44 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Seller's Solicitors
Smith Llewelyn Partnership Solicitors 18 Princess Way
Swansea
SA1 3LW
Peter Smith 01792 464 444peter.smith@smithllewelyn.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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