Shop let to Coral Racing Limited on a lease expiring 2027
Minimum uplift in March 2021 to £12,543 per annum (1)
VAT-free investment
Lot 85
Auction 18th October 2018
Rent £11,088 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
6 miles east of Merthyr Tydfil
11 miles west of Abergavenny
15 miles west of Ebbw Vale
20 miles north of Cardiff
Roads
A465, A4048, A470
Rail
Ebbw Vale Parkway
Air
Cardiff Airport
Situation
Tredegar, within the Welsh Valleys, is 20 miles north of Cardiff, 6 miles east of Merthyr Tydfil and 11 miles west of Abergavenny. The property is located in a mixed commercial/residential area in the town centre on The Circle, at its junction with Castle Street. The property is adjacent to Tredegar library and opposite the Cambrian public house. Other occupiers close by include The Olympia public house and a number of local traders.
Tenure
Freehold.
Location
Miles
6 miles east of Merthyr Tydfil
11 miles west of Abergavenny
15 miles west of Ebbw Vale
20 miles north of Cardiff
Roads
A465, A4048, A470
Rail
Ebbw Vale Parkway
Air
Cardiff Airport
Situation
Tredegar, within the Welsh Valleys, is 20 miles north of Cardiff, 6 miles east of Merthyr Tydfil and 11 miles west of Abergavenny. The property is located in a mixed commercial/residential area in the town centre on The Circle, at its junction with Castle Street. The property is adjacent to Tredegar library and opposite the Cambrian public house. Other occupiers close by include The Olympia public house and a number of local traders.
Tenure
Freehold.
Description
The property comprises a ground floor and basement bookmakers with self-contained office accommodation above. The ground floor provides sales, customer WCs and staff accommodation and the basement further ancillary accommodation.
VAT
VAT is not applicable to this lot.
EPC
C
Description
The property comprises a ground floor and basement bookmakers with self-contained office accommodation above. The ground floor provides sales, customer WCs and staff accommodation and the basement further ancillary accommodation.
VAT
VAT is not applicable to this lot.
EPC
C
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground Basement
Retail Ancillary
170 sq m 191.77 sq m
(1,830 sq ft) (2,064 sq ft)
CORAL RACING LIMITED (2)
16 years from 28/02/2011 on a full repairing and insuring lease
£11,087
2021 (1) (minimum increase to £12,543 pa)
First
Office
INDIVIDUAL
999 years from 25/05/1982
£1
Total
361.77 sq m
(3,894 sq ft)
£11,088
(1) The rent review in 2021 is to a minimum of 2.5% pa compounded annually (£12,543) or OMRV. (2) For the year ended 31st December 2016, Coral Racing Limited reported a turnover of £867,406,000, pre-tax profits of £91,174,000 and a net worth of £54,538,000 (Source:- Experian 17/09/2018). Coral trades from over 1,800 shops in the UK (Source: www.coral.co.uk).