Job Centre Plus
Market street
Bridgend
Glarmorgan
CF31 1LL

Freehold Office Investment

  • Let to The Secretary of State for Communities and Local Government on a renewed lease until 2027 (no breaks)
  • Town centre location adjacent to the main bus station
  • Long term residential redevelopment potential (subject to consents)
  • Neighbouring occupiers include Home Bargains, Tesco superstore, Oxfam, Poundland, HSBC, Lloyds Bank and Superdrug
  • Lot
    14
  • Auction
    14/Feb/2019
  • Rent
    £167,040 per Annum Exclusive
  • Status
    Sold
  • Price*
    £1,650,000
  • Sector
    Office
  • Auction Venue
    The Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
  • Job Centre Plus<br>Market street<br>Bridgend<br>Glarmorgan<br>CF31 1LL
  • Expand
  • Photos
  • Map

* More information on the term "price" can be found here

Property Information

Location
Miles
18 miles west of Cardiff, 29 miles south-east of Swansea
Roads
M4 (Junction 36), A48, A473
Rail
Bridgend Railway Station
Air
Cardiff Airport
Situation

The property is prominently situated in the heart of the town centre on Market Street and immediately next to the town’s main bus terminal. Neighbouring occupiers include Home Bargains, Tesco superstore, Oxfam, Poundland, HSBC, Lloyds Bank and Superdrug.

Tenure

Freehold.

Description

The property comprises modern office accommodation on ground, first and second floors. The offices benefit from suspended ceilings, double glazing and underfloor trunking. The property benefits from car parking to the rear.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
Ground
First
Second
Office
Office
Office
370.90 sq m
370.65 sq m
310.94 sq m
(3,992 sq ft)
(3,990 sq ft)
(3,347 sq ft)
THE SECRETARY
OF STATE FOR
COMMUNITIES
AND LOCAL
GOVERNMENT
t/a Job Centre Plus
From 01/04/2018
until 31/03/2027
on a full repairing and
insuring lease (1)
£167,040 (2)01/04/2023
Totals
1,052.49 sq m
(11,329 sq ft)
  £167,040 (2) 

(1) The lease is on full repairing and insuring terms, subject to an arrangement during the period where the Government or a Government Department is the tenant where generally the Government will be self-insuring i.e. there is no requirement for the tenant to insure and no entitlement for the landlord to reinstatement as set out in Schedule 9 of the Lease.
(2) The lease provides for a rent free period from 1st April 2018 until 1st January 2020. The seller will pay the buyer monies equivalent to £167,040 per annum exclusive from completion of the sale until the end of the rent free period. Therefore the property will produce £167,040 per annum exclusive from the completion of the sale.

Property Documents

  • Site Plan
    Updated Date
    22.01.19
    File Size
    1 MB
    View PDF
  • Catalogue Page
    Updated Date
    22.01.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    10.01.19
    File Size
    143 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Associate Auctioneers
CBRE Limited Henrietta House, Henrietta Place
London
W1G 0NB
Daniel Mattey 020 3257 6753daniel.mattey@cbre.com
Seller's Solicitors
Addleshaw Goddard LLP 3 Sovereign Square, Sovereign Street
Leeds
LS1 4ER
Sabrina Ellahi 0113 209 4951sabrina.ellahi@addleshawgoddard.com

Useful Links

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