1-9 Caroline Street
Bridgend
Bridgend County Borough
CF31 1DN

High Yielding and Fully Let Freehold Town Centre Retail Parade Investment

  • Substantial retail parade comprising six well configured retail units
  • Tenants include Halifax, Subway, New Look, British Heart Foundation and Sue Ryder
  • Comprises approximately 2,482.77 sq m (26,725 sq ft)
  • Modern building in prominent Town Centre location, opposite Rhiw Shopping Centre/Indoor Market
  • Nearby occupiers include Boots the Chemist, Burton, O2 and JD Wetherspoon
  • Lot
    8
  • Auction
    10/Dec/2020
  • Rent
    £193,885 per Annum Exclusive
  • Status
    Available
  • Price*
    £1,000,000 - £1,100,000
  • Sector
    High Street Retail
  • Auction Venue
    Live Streamed Auction
  • 1-9 Caroline Street<br>Bridgend<br>Bridgend County Borough<br>CF31 1DN
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  • Photos
  • Map

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

Property Information

Location
Miles
21 miles west of Cardiff
24 miles south-east of Swansea
Roads
A406, M4
Rail
Bridgend
Air
Cardiff Airport
Situation

Bridgend is located in South Wales approximately 21 miles west of Cardiff and 24 miles south-east of Swansea. The property is situated in a prominent, town centre location on the north side of the pedestrianised Caroline Street, opposite the main entrance to Rhiw Shopping Centre and indoor market, and extends to it's junction with Dunraven Place. Nearby retailers include Boots the Chemist, Burton, O2 and JD Wetherspoon.

Tenure

Freehold.

Description

The property comprises a substantial retail parade currently arranged as six shops, each providing ground floor retail accommodation together with first floor ancillary. There is a service yard to the rear of the property.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion.

EPC

Various. See legal pack at www.acutus.co.uk.

Tenancy & Accommodation

 FloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews
1
1A
Ground
First
Retail
Ancillary
91.60 sq m
103.68 sq m
(986 sq ft)
(1,116 sq ft)
MULLIGAN
COMMUNITY
CIC
Approximately 6
years from
11/11/2019 until
03/07/2025 (1)
£12,00004/07/2023
3Ground
First
Retail
Ancillary
102.29 sq m
97.18 sq m
(1,101 sq ft)
(1,046 sq ft)
SUBWAY
REALTY
LIMITED (2)
10 years from
08/09/2019 until
07/09/2029 (3)
£13,00008/09/2024
3AGround
First
Retail
Ancillary
104.33 sq m
109.16 sq m
(1,123 sq ft)
(1,175 sq ft)
BRITISH
HEART
FOUNDATION
(4)
5 years from
24/03/2017 until
23/03/2022
£15,000-
4/5Ground
First
Retail
Ancillary
283.35 sq m
173.82 sq m
(3,050 sq ft)
(1,871 sq ft)
HALIFAX PLC15 years from
18/06/2007 until
17/06/2022
£105,000-
7 & 7A Ground
First
Retail
Ancillary
434.97 sq m
321.16 sq m
(4,682 sq ft)
(3,457 sq ft)
NEW LOOK
RETAILERS
LIMITED (5)
5 years from
13/12/2019 until
12/12/2024 (6)
3% turnover
rent (7)
-
9Ground
First
Retail
Ancillary
306.02 sq m
355.26 sq m
(3,294 sq ft)
(3,824 sq ft)
SUE RYDER (8)10 years from
08/07/2019 until
07/07/2029 (9)
£25,94308/07/2024
Total
2,482.82 sq m
(26,725 sq ft)  £193,885 (10) 

(1) The lease is subject to a tenant's option to determine on 03/07/2021, and a landlord's option to determine at any time on giving one month's notice.
(2) For the year ending 31/12/2018, Subway Realty Limited reported a turnover of £35,107,808, pre tax profits of £1,530,929 and total assets of £7,749,186 (NorthRow 13/11/2020).
(3) The lease is subject to a tenant's option to determine on 08/09/2024.
(4) British Heart Foundation was founded in 1961 and operates from over 700 stores (www.bhf.org.uk).
(5) Founded in 1969, New Look now operates in over 800 stores around the world, the majority in the UK and the Republic of Ireland (www.newlookgroup.com 12/11/2020).
(6) The lease is subject to a tenant's option to determine on 13/12/2022.
(7) New Look Retailers Limited filed for CVA in September 2020 and as a result it has been agreed that they will pay a 3% turnover rent for this store on the equivalent monthly basis. Under the CVA the landlord and tenant are granted additional rights to terminate the lease. Please see legal pack for full details and a copy of the CVA agreement.
(8) Sue Ryder was founded in 1953 and operates from over 400 shops across the UK (sueryder.org).
(9) The lease is subject to a tenant's option to determine on 08/07/2024.
(10) Includes estimated annualised rent paid by New Look, based on the agreed 3% turnover rent, assuming New Look continue to trade throughout the year at similar levels to that reported for the month ending 23rd October 2020. For the month ending 23rd October 2020 New Look reported a turnover of £63,730 at this store.

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
    30.11.20
    File Size
    38 MB
    Login to View
  • Catalogue Page
    Updated Date
    20.11.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    20.11.20
    File Size
    922 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
Peter MayoPeter Mayo +44 (0)20 7034 4864 +44 (0)7833 459318Peter.mayo@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Seller's Solicitors
Dentons UK and Middle East LLP 1 George Square,
Glasgow
G2 1AL
Jo Campbell-Smith 0330 222 1682jo.campbell-smith@dentons.com

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