11 College Street, Swansea, SA1 5AF
- Property Type: Investment
- Size: 235 sq m (2,534 sq ft)
- MIXED-USE LONG LEASEHOLD INVESTMENT OPPORTUNITY
- GROUND FLOOR LET TO CANCER RESEARCH WALES (LEASE EXPIRING JAN 2025)
- FIRST & SECOND FLOORS LET TO ACO TRAINING (LEASE EXPIRING AUGUST 2024)
- TOTAL INCOME £24,500PAX
- OFFERS IN THE REGION OF £285,000
The property fronts College Street, a mix use / secondary retail location within Swansea City Centre. Prominent occupiers in the immediate vicinity include Air Wales Ambulance Charity Shop, AWA Grill House, Swansea University Rielscience Centre and Jack’s Kitchen.
A terrace premises, which comprises of a three-storey main building and a single storey rear addition. The property has independent access to the upper floors and benefits from three rear car parking spaces. The property was fully refurbished in 2008
Ground floor : 133.85 sq m ( 1,441 sq ft )
First floor: 49.27 sq m ( 530 sq ft )
Second floor: 52.31 sq m ( 563 sq ft )
Total: 235.43 sq m ( 2,534 sq ft )
We have been informed via an enquiry on the valuation office web site that the premises has the following assessments:
Ground floor: £11,000
First and second floor: £6,100
UBR for Wales 2021/22 is 53.30 in the £
Ground floor: Energy rating: C – 70
First and Second floor: TB
The property is held Long Leasehold for a term of 125 years from 14th November 2008. The current ground rent is £3,540 pa reviewed every 5 years from 14th November 2013 to open market ground rent or 12% of open market rent, whichever the greater.
The ground floor was recently let to Cancer Research Wales from 10th January 2022 to 9thJanuary 2027. There is a tenant break on 9th January 2025 and a review on the 10th January 2025. The lease is on FRI terms, via a capped service charge. The current rent is £15,000 pax.
The first and second floors are let to ACO Training Ltd from 22nd August 2021 to 21st August 2024, with breaks on 21st August 2022 and 2023. The lease is on FRI terms, via a service charge capped at £2,000pa. The current rent is £9,500 pax
Offers in the region of £285,000
All prices are exclusive of VAT. Our clients reserve the right to charge vat on all payments.
Each parties to pay their own legal costs on this transaction.