Restaurant Let until August 2024 (subject to option)
Located in City Centre Location
2016 Break option not exercised
Nearby occupiers include Subway, YMCA, JD Wetherspoon and Nisa Local
Current passing rent of £15,000 p.a.x. (gross), £14,750 p.a.x (net)
Lot 84
Auction 11th July 2018
Rent £15,000 per Annum Exclusive
Status Sold
Price £100,000
Sector Restaurant
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of a Major Fund Manager
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
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.
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. (gross)
Review
Ground First
Restaurant/Ancillary Restaurant
201.95 sq m 66.28 sq m
(2,174 sq ft) (714 sq ft)
JEPPRO LIMITED t/a Mosaic (1)
10 years from 27/08/2014 until 26/08/2024 (2)
£15,000
27/08/2019
Total
268.23 sq m
(2,888 sq ft)
£15,000
(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 2016, 2017 and 2018 (Source: www.mosaicswanseauk.com 01/06/2018). (2) The lease provides a tenant option to determine on 27/08/2019.
