59-61 Cardiff Road
Caerphilly
Mid Glamorgan
CF83 1FP

Freehold Town Centre Investments with 44 Year Lease to W M Morrison Plc

  • Let to WM Morrison Supermarkets Plc until 2064 (no breaks) (1) sublet to Specsavers (2)
  • 44 Years unexpired
  • Prominent town centre location
  • Neighbouring occupiers include HSBC, Greggs, Subway, Coral and Nationwide
  • VAT free investment
  • Lot
    2
  • Auction
    10/Dec/2020
  • Rent
    £43,150 per Annum Exclusive
  • Status
    Available
  • Price*
    £750,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 59-61 Cardiff Road<br>Caerphilly<br>Mid Glamorgan<br>CF83 1FP
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  • Photos
  • Map

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

Property Information

Location
Miles
7 miles north of Cardiff
11 miles west of Newport
Roads
B4600, B4263, A468
Rail
Caerphilly Rail
(direct services to Cardiff Central in 19 mins)
Air
Cardiff International Airport
Situation

Caerphilly is a busy commuter town providing excellent access to both Cardiff and Newport. The property is prominently situated on the west side of Cardiff Road, Caerphilly's primary retailing thoroughfare, approximately 200 metres north of Caerphilly Railway Station. Neighbouring occupiers include HSBC, Greggs, Subway, Coral and Nationwide.

Tenure

Freehold.

Description

The property comprises a double shop unit with retail accommodation on the ground floor and first floor ancillary accommodation.

VAT

VAT is not applicable to this lot.

Completion Period

Ten Week Completion

EPC

Band E. See legal pack.

Tenancy & Accommodation

FloorUseFloor Areas
(Approx)
TenantTermRent p.a.xReview
Ground
First
Retail
Ancillary
165.97 sq m
169.01 sq m

(1,786 sq ft)
(1,819 sq ft)
WM MORRISON
SUPERMARKETS
PLC (CRN358949)
(1)(2)
99 years from
24/06/1965 until 2064
on a full repairing and
insuring lease
£43,15024/06/2028 and
24/06/2049 (3)
Total
334.98 sq m
(3,605 sq ft)
  £43,150 

(1) For the year ending 2nd February 2020 WM Morrison Supermarkets Plc reported a turnover of £17,536,000,000, a pre-tax profit of £435,000,000 and shareholders funds of £4,541,000,000 (Source: NorthRow 12/11/2020).
(2) The property has been sublet to Specsavers Optical Superstores Limited on a 10 year lease from 18/03/2016.
(3) As to the lease to WM Morrison Supermarkets Plc the rent is reviewed every 21 years on an upward only basis to full rental value.

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
    20.11.20
    File Size
    36 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    763 KB
    View PDF
  • Site Plan
    Updated Date
    20.11.20
    File Size
    865 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
    07.10.20
    File Size
    1,016 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
17 St. Ann's Road
Harrow
Middlesex
HA11JU
Rima Malde 020 8795 2949rimamalde.office@gmail.com

Useful Links

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