Next door to public library and Risca Customer Service Centre
Forms part of the redeveloped Risca Palace building
13 car parking spaces
Lot 36
Auction 5th December 2018
Rent £52,445 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Supermarket/Convenience
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
5 miles north-west of Newport
12 miles north-east of Cardiff
Roads
A467, M4 (Junction 27)
Rail
Risca and Pontymister (30 mins to Cardiff Central)
Air
Cardiff International Airport
Situation
Risca is a town with a population of 11,500 5 miles northwest of Newport, 12 miles north-east of Cardiff and 3 miles from junction 27 of the M4 motorway. The property is located in the heart of the town centre on Tredegar Road (A467), next to the Risca local library and opposite Gwent Police Station and Risca Park, with Risca Rugby Club situated to the rear. Risca and Pontyminster Railway Station is a short walk from the property and provides regular direct services to Cardiff Central within 30 minutes.
Tenure
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
Location
Miles
5 miles north-west of Newport
12 miles north-east of Cardiff
Roads
A467, M4 (Junction 27)
Rail
Risca and Pontymister (30 mins to Cardiff Central)
Air
Cardiff International Airport
Situation
Risca is a town with a population of 11,500 5 miles northwest of Newport, 12 miles north-east of Cardiff and 3 miles from junction 27 of the M4 motorway. The property is located in the heart of the town centre on Tredegar Road (A467), next to the Risca local library and opposite Gwent Police Station and Risca Park, with Risca Rugby Club situated to the rear. Risca and Pontyminster Railway Station is a short walk from the property and provides regular direct services to Cardiff Central within 30 minutes.
Tenure
Virtual Freehold. Held for a term of 999 years from completion of the sale at a peppercorn rent.
Description
The property comprises a ground floor retail unit currently used as a convenience store and forms part of the historic former Risca Palace Cinema, redeveloped in 2011. The unit benefits from 13 car parking spaces and servicing to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band B.
See legal pack at www.acuitus.co.uk.
Description
The property comprises a ground floor retail unit currently used as a convenience store and forms part of the historic former Risca Palace Cinema, redeveloped in 2011. The unit benefits from 13 car parking spaces and servicing to the rear.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
EPC Rating Band B.
See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground
Convenience Store
353.1 sq m
(3,800 sq ft)
TESCO STORES LIMITED (1) sublet to One Stop Stores Ltd (2)
15 years from 31/10/2011
£52,445.52
31/10/2021 (3) (31/10/2026)
Total
353.1 sq m
(3,800 sq ft)
£52,445.52
(1) For the year ending 24th February 2018, Tesco Stores Limited reported a turnover of £41,367,000,000, pre-tax profits of £417,000,000 and a total net worth of £4,071,000,000 (Source: Experian 07/11/2018). (2) The property has been sublet to One Stop Stores Ltd. Please refer to the legal pack for further information. (3) The rent review is linked to RPI.
Contacts
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard London EC4M 8AL
