4/5 Oxford Street
Swansea
West Glamorgan
SA1 3AE

Prime Retail Investment

  • Let to River Island Clothing Co. Limited
  • Highly profitable store turned over 1.86 Million net of VAT in 2019 (3)
  • Rent rebased from 250,000 p.a.x.
  • Prime City Centre Location
  • Directly opposite Marks & Spencer
  • Neighbouring occupiers include Sports Direct, H&M, Costa Coffee, Lloyds Bank, Barclays Bank and McDonald's
  • Lot
    10
  • Auction
    09/Jul/2020
  • Rent
    £125,000 per Annum Exclusive
  • Status
    Available
  • Price*
    £875,000 - £900,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 4/5 Oxford Street<br>Swansea<br>West Glamorgan<br>SA1 3AE
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  • Photos
  • Map

* 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 Railway Station
Air
Cardiff Airport
Situation

The property is prominently located in the heart of Swansea City Centre, 1.5 miles north-west of Swansea University, on the south side of the busy pedestrianised Oxford Street, Swansea's prime retailing thoroughfare. Neighbouring occupiers include Sports Direct, H&M, Costa Coffee, Lloyds Bank, Barclays Bank and McDonald's.

Tenure

Long Leasehold. Held from the Council of the City and County of Swansea for a term of 150 years from 29th September 2011 until 2161 at a current rent reserved of 12,500 per annum exclusive. The rent is geared to 10% of the open market rent. The lease provides for the rent to be reviewed downwards or upwards in 2023 and 5 yearly.

Description

The property comprises a large, well proportioned shop with retail accommodation on the ground floor and ancillary accommodation on the first and second floors. The third floor is not currently being used by the tenant and there is no internal access between the second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReversion
Ground
First
Second
Retail
Ancillary
Ancillary
397.76 sq m
312.20 sq m
72.09 sq m

(4,281 sq ft)
(3,361 sq ft)
(776 sq ft)
RIVER ISLAND
CLOTHING CO.
LIMITED (1)
5 years from
25/03/2019 (2)
£125,00024/03/2024
ThirdNot currently
used
not measured
Total
263.55 sq m
(2,837 sq ft)
  £125,000 

(1) For the year ending 29th December 2018, River Island Clothing Company Limited reported a turnover of 877,700,000, a pre-tax profit of 45,300,000 and shareholders funds of 341,500,000 (Source: SmartSearch 16/06/2020).
(2) The lease provides for a tenant option to determine on 25/03/2022.
(3) The tenants turnover information was provided to the seller, by the tenant.

If you are the successful bidder, Acuitus requires a separate payment of £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Solicitors Legal Pack
    Updated Date
    03.07.20
    File Size
    40 MB
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  • Catalogue Page
    Updated Date
    22.06.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    22.06.20
    File Size
    444 KB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    20.05.20
    File Size
    694 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 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
Seller's Solicitors
Hill Dickinson LLP 50 Fountain Street
Manchester
M2 2AS
Jonathan Dover 0161 817 7290jonathan.dover@hilldickinson.com

Useful Links

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