Let to The Secretary of State for Communities and Local Government
New 10 year lease from April 2018 (subject to option)
CPI linked Rent Review in April 2023 (compounded annually)
Future redevelopment and Change of Use potential (subject to lease and consents)
Predominantly residential location
Lot 2
Auction 24th May 2018
Rent £13,426 per Annum Exclusive
Status Sold
Price £202,000
Sector Medical/Healthcare
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles north-west of Newport, 15 miles north of Cardiff, 41 miles east of Swansea
Roads
B4251, A469, A470
Air
Cardiff International Airport
Situation
The property is located on the western side of Llanarth Road, south of its junction with Commercial Road and Newbridge Road. The property is located in a predominantly residential area with a number of local amenities nearby.
Tenure
Freehold.
Location
Miles
12 miles north-west of Newport, 15 miles north of Cardiff, 41 miles east of Swansea
Roads
B4251, A469, A470
Air
Cardiff International Airport
Situation
The property is located on the western side of Llanarth Road, south of its junction with Commercial Road and Newbridge Road. The property is located in a predominantly residential area with a number of local amenities nearby.
Tenure
Freehold.
Description
The property comprises a medical assessment centre with office/medical accommodation arranged on the ground and first floors. The property benefits from permitted use as offices, a job centre or a medical assessment centre.
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 medical assessment centre with office/medical accommodation arranged on the ground and first floors. The property benefits from permitted use as offices, a job centre or a medical assessment centre.
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/First
Medical Centre
172.99 sq m
(1,862 sq ft)
THE SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT (1)
10 years from 01/04/2018 until 31/03/2028 (2) on a full repairing and insuring lease
£13,426
01/04/2023 (3)
Total
172.99 sq m
(1,862 sq ft)
£13,426
(1) Centre for Health and Disability Assessments provides a service assessing the eligibility for benefits of people who are out of work due to long-term illness, or as a result of a disability or health condition, on behalf of the Department for Work and Pensions (DWP) (Source: www.chdauk.co.uk 17/04/2018). (2) The lease is subject to a tenant option to determine on 31st March 2023. (3) The rent is reviewed every 5 years to CPI and is compounded annually.
