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Restaurant/cafe for sale
Main features: Income producing freehold investment. Ground floor commercial lease. Upper parts long term ground rent lease.
Description location & directions; Barbara Rees Commercial is pleased to offer for sale this, mixed use freehold investment with income derived from a ground floor commercial lease and a long term ground rent lease of the upper parts, residential flat.
The property is situated in a prominent location on the one way system at the road junction of Ton Y Felin Road, Castle Street and Bedwas Road ( B4600 ), a short distance from Caerphilly town centre and Caerphilly castle.
The property fronts directly onto Ton Y Felin Road with rear car park access off Bedwas Road, (see the map inlay below for local directions).
Viewing; Unaccompanied external viewing is possible (please do not make any direct approach to the shop tenant).
Lease documentation; Is available for inspection at our Tonypandy office.
Demise – Ground floor shop unit / cafe / take away 27 Ton Y Felin Road Caerphilly. User – within use class A3,1987 planning act use class orders ( Wales ), the tenant is currently successfully trading as a cafe / take away. Lease type - Formal Unregistered lease. Lease term – 5 Years from 01st October 2018 (the seller advises that the current tenant wishes to remain in occupation and either extend or renew the exiting lease). Passing rent - £9,960 p/a paid monthly in advance. Rent reviews – At renewal. Repairing obligations – I.R & I. Vat – we are given to understand that the property is not vat elected.
Demise – First floor flat 21a Ton Y Felin Road Caerphilly. User – within use class C3,1987 planning act use class orders ( Wales ), residential flat. Lease type – Long ground rent lease with insurance and service charge. Lease term – 125 years from 05th August 2008. Ground rent - £150-00 p/a increasing by £50-00 every tenth anniversary.
Exterior; Rear car parking / delivery access.
Asking price; £ 105,000 for the freehold interest, subject to the existing leases.
General notes; Any information contained herein should be verified by prospective purchasers or their advisers prior to any formal commitment to purchase. The proceeds of crime act 2002 & anti money laundering rules 2007 require us to obtain both personal and residence identification from all purchasers / ingoing tenants where an offer has been made and accepted. Please arrange for the appropriate identification to be provided, when asked. Barbara Rees is advised that the property has the benefit of all main’s services although this and the adequacy and condition of any and all equipment / fixtures and fittings / inventory items, should be confirmed by the prospective purchaser via the acting solicitors.
Commercial mortgage / business loan; Available subject to status, please ask for an appointment with our independent financial advisor.
For more information about this property, please contact Barbara Rees Estate Agents, CF40 on +44 1443 308034 * (local rate)
Contact Barbara Rees Estate Agents about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Barbara Rees Estate Agents, and do not constitute property particulars. Please contact Barbara Rees Estate Agents for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.