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
Sold
Price*
£770,000
Sector
High Street Retail
Auction Venue
Live Streamed Auction

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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

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
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	£43,150	24/06/2028 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.