11 St. Helens Unit D & Unit E Ty John Penri Swansea West Glamorgan SA1 4AL

11 St. Helens
Unit D & Unit E Ty John Penri
Swansea
West Glamorgan
SA1 4AL

City Centre Restaurant Investment

Restaurant Let until August 2024 (subject to option)
Located in City Centre Location
2016 Break option not exercised
Nearby occupiers include Subway, YMCA, J D Wetherspoon and Nisa Local
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
60
Auction
25th May 2017
Rent
£15,000 per Annum Exclusive
Status
Sold
Price
£90,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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City Centre Restaurant Investment

Restaurant Let until August 2024 (subject to option)
Located in City Centre Location
2016 Break option not exercised
Nearby occupiers include Subway, YMCA, J D Wetherspoon and Nisa Local
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 60
Auction 25th May 2017
Rent £15,000 per Annum Exclusive
Status Sold
Price £90,000
Sector
Restaurant
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 12 miles east of Llanelli, 38 miles west of Cardiff
Roads: A4118, A4067, A483, M4 (Junction 47)
Rail: Swansea Rail
Air: Cardiff International Airport

Situation

The property is situated in Swansea City Centre set back from St Helen's Road which runs parallel to Oxford Street, the prime retailing thoroughfare. Nearby occupiers include Subway, YMCA, J D Wetherspoon and Nisa Local.

Tenure

Long Leasehold. Held for a term of 125 years from 1st January 2005 at a rent of £250 per annum increasing by £250 per annum in 2032 and every 25 years thereafter.

Location

Miles: 12 miles east of Llanelli, 38 miles west of Cardiff
Roads: A4118, A4067, A483, M4 (Junction 47)
Rail: Swansea Rail
Air: Cardiff International Airport

Situation

Tenure

Long Leasehold. Held for a term of 125 years from 1st January 2005 at a rent of £250 per annum increasing by £250 per annum in 2032 and every 25 years thereafter.

Description

The property is a former print house which currently comprises restaurant and ancillary accommodation over ground and first floors, accessed primarily via St Helens Road.

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 is a former print house which currently comprises restaurant and ancillary accommodation over ground and first floors, accessed primarily via St Helens Road.

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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground First	Restaurant/Ancillary Restaurant	201.95 sq m 66.28 sq m	(2,174 sq ft) (714 sq ft)	INDIVIDUALS t/a Mosaic (1)	10 years from 27/08/2014 until 26/08/2024 (2)	£15,000 (3)	27/08/2019
Total		268.23 sq m	(2,888 sq ft)			£15,000 (3)

(1) Mosaic Swansea is a tapas restaurant set up by two established food entrepreneurs in 2012. Mosaic has now been awarded the prestigious Good Food Award for both 2016 & 2017 (Source: www.mosaicswanseauk.com 10/04/2017).
(2) The lease provides a tenant option to determine on 27/08/2019.
(3) For the purpose of clarification, the current rent is £14,000 p.a.x. The lease provides a fixed rental increase to £15,000 p.a.x in 27/08/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £15,000 p.a.x. from completion of the sale.