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 24th October 2019
Rent £217,625 per Annum Exclusive
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
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* More information on the term "guide" can be found here
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 24th October 2019
Rent
Status Withdrawn Post
Price
Sector High Street Retail
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
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.
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
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.
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.