Job Centre Plus Market street Bridgend Glarmorgan CF31 1LL

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
14th February 2019
Rent
£167,040 per Annum Exclusive
Status
Sold
Price
£1,650,000
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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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 14th February 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

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.

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

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
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.