Retail premises for sale in 1315 Neath Road, Hafod, Swansea SA1

The subject premises comprises a ground floor retail unit which is fully fitted, equipped and currently occupied for use as a convenience store.

Internally, the premises comprises the main sales area, which benefits from a gross frontage of approximately 15m (49 ft.), accessed via a standard sales display window to the front. We further advise that the main sales area has been masked and partitioned in part, which therefore has the potential to be extended further to display a higher volume of stock if required. Ancillary accommodation located to the side of the main sale area is available, comprising an additional stock room together with staff w.c. Facilities.

Please be advised that our client's leasehold interest is being offered for sale, to include the business fixtures and fittings, which is held on a Sub-Lease.

Description

The subject premises comprises a ground floor retail unit which is fully fitted, equipped and currently occupied for use as a convenience store.

Internally, the premises comprises the main sales area, which benefits from a gross frontage of approximately 15m (49 ft.), accessed via a standard sales display window to the front. We further advise that the main sales area has been masked and partitioned in part, which therefore has the potential to be extended further to display a higher volume of stock if required. Ancillary accommodation located to the side of the main sale area is available, comprising an additional stock room together with staff w.c. Facilities.

Please be advised that our client's leasehold interest is being offered for sale as a going concern, to include the business fixtures and fittings, which is held on a Sub-Lease.

Location

The premises is located along a prominent main road position, directly off the main B4603 (Neath Road), which is one of the main distribution road linking Swansea city centre with the surround catchment area. Neath Road also forms one of the regular bus route into the city centre, with one of the main bus stops being located directly to the front of the unit.

The retail unit also forms part of the Livermore Building mixed use development, which includes various modern self-contained apartments and office units arranged over the upper floors together with an adjoining self-contained retail unit, which is currently occupied by Pizza Hut. Various customer parking facilities are also available on site, within the adjoining compound located further to the south.

Accommodation

The subject premises affords the following approximate areas:

Net Internal Area: 217.15 sq.m (2,337.40 sq. Ft.)

Ground floor

Sales Area: 175.62 sq.m (1,890.37 sq. Ft.)
accessed via an aluminium powder coated sales display window with automated entrance doors, providing immediate access to the main sales area. The main sale area, which has been subdivided in part by demountable partitioning is fully fitted and equipped with various free standing shelving, fixed retail wall shelving, glass fronted upright displays and open front multi-deck refrigeration units along the perimeter walls, including 4 no. Air conditioning units incorporated within the suspended ceiling grid.

Shop Depth: 11.89m (39'0")

Internal Width: 15.12m (49'7")

Ancillary: 41.53 sq.m (447.02 sq. Ft.)
comprising storage accommodation, which has partitioning in part to accommodate additional w.c. Facilities.

Rates

As stated on the voa website the Rateable Value for the subject premises is as follows:

Rateable Value (2017): £29.750

From April 2018 the Welsh Government set the multiplier according to the Consumer Price Index (cpi) and for the financial year 2020-21 the multiplier will be 0.535.

We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .

Vat

All figures quoted are exclusive of VAT. Please be advised that VAT will be applicable to this transaction.

Terms & Tenure

Our client's interest is available for sale by as a going concern way of an assignment (to include the business fixtures and fittings), subject to the proposed quoting price enclosed. Please be advised that the premium quoted excludes the stock value, which will be determined prior to completion. Estimated sales are approximately £10,500 per week, which includes VAT but excludes commission sales.

Our client's interest is held on an Underlease at a current rent of £28,425 per annum, between One Stop Stores Ltd (as Lessor) and Kumar Stores Ltd (as Lessee).

We also make reference to the Head Lease, which is held for a term of 15 years, commencing on 23rd September 2013 (expiring on 22nd September 2028), between ifg Property (Swansea) Ltd (as Superior Landlord) and One Stop Stores Ltd (as Head Lessee). The Lease also has provisions for a Tenant only break option (which can be exercised by One Stop Stores Ltd) on 23rd September 2023. There may also be an opportunity to re-gear the Head Lease, which will be subject to the Superior Landlord's and Head Lessee's consent.

A copy of the relevant Leasehold documentation will be available on request.

Viewing

By appointment with Joint Agents:

Astleys Chartered Surveyors
Tel: Email:

BP2 Land and Property Consultants
Tel: Email: