266 / 267 Oxford Street
Swansea
SA1 3BS

High Yielding Prime City Centre Retail Investment

  • Let to Next Holdings Limited (formerly known as Next Group Plc)
  • Tenant improvements in 1997 to create additional 3,500 sq ft of trading accommodation at first floor
  • Prime trading location on pedestrianised Oxford Street, Swansea's principal retailing thoroughfare
  • Adjacent to large Marks & Spencer store (approximately 95,000 sq ft) including large M&S food operation, and close to H&M, Zara, Flying Tiger, Sports Direct, Primark, Costa and McDonald's
  • High yielding on Guide Price
  • Lot
    20
  • Auction
    24/Oct/2019
  • Rent
    £217,625 per Annum Exclusive
  • Status
    Available
  • Price*
    Contact Us
  • Sector
    High Street Retail
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    London W1H 7TN
  • 266 / 267 Oxford Street<br>Swansea<br>SA1 3BS
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* More information on the term "price" can be found here

Property Information

Location
Miles
40 miles west of Cardiff
78 miles west of Bristol
Roads
A483, M4 (J42)
Rail
Swansea
Air
Cardiff Airport
Situation

Swansea is the second largest city in Wales and is located 40 miles west of Cardiff. The property is located on the northern side of the pedestrianised Oxford Street, Swansea's prime retailing thoroughfare in a prominent location between Portland Street and Princess Way, 1.5 miles north-west of Swansea University, Wales' third largest university. Nearby occupiers include Marks & Spencer (95,000 sq ft), H&M, Zara, Flying Tiger, Sports Direct, Primark, Costa and McDonald's.

Tenure

Long Leasehold. Held from Swansea City Council for a term of 125 years from 22nd January 2008 (thus having some 114 years unexpired). The lease is subject to a rent review on 24th March 2024 and 5 yearly thereafter, at a rent of 10% of the occupational rent receivable. The current head rent is £21,750 per annum exclusive.

Description

The property comprises a large, well proportioned shop with trading accommodation on the ground and majority of the first floor and ancillary accommodation on the part first and second floors.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

FloorUseFloor Areas (Approx)TenantTermRent p.a.x
Ground
Part First
Part First
Second
Retail
Retail
Ancillary
Ancillary
510.96 sq m
313.32 sq m
134.40 sq m
83.73 sq m
(5,500 sq ft)
(3,373 sq ft)
(1,447 sq ft)
(901 sq ft)
NEXT HOLDINGS
LIMITED (formerly
known as Next
Group Plc) (1)
10 years from 25/03/2011
until 24/03/2021 on a full
repairing and insuring lease
£217,500
Total
1,042.41 sq m
(11,221 sq ft)
  £217,500

(1) For the year ending 26th January 2019, Next Holdings Limited reported a turnover of £215,300,000, pre-tax profits of £738,500 and a total net worth of £946,700,000 (Source: Experian Group 21/08/2019). Next Group Plc changed its name in June 2016 to Next Holdings Limited.
NB: There is an electricity substation let to Western Power Distribution (South West) Plc expiring 12/06/2034 at a rent of £125 p.a. increasing with RPI every five years.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    14.10.19
    File Size
    23 MB
    Login to View
  • Site Plan
    Updated Date
    02.10.19
    File Size
    3 MB
    View PDF
  • Catalogue Page
    Updated Date
    02.10.19
    File Size
    2 MB
    View PDF
  • Common Auction conditions
    Updated Date
    19.09.19
    File Size
    150 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    19.09.19
    File Size
    36 KB
    View PDF

Contacts

Acuitus
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Fladgate LLP 16 Great Queen Street
London
WC2B 5DG
Zevi Prager 02030367316zprager@fladgate.com

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