Pub/bar for sale in The Kingsway, Swansea SA1

Location

The property is located on The Kingsway, which has recently undergone extensive upgrade works to improve the public realm. The building is situated to the fringe of the amenities within Swansea City centres retail core, just a few minutes walk from Swansea Central Train Station, offering direct services to Cardiff, Bristol and London Paddington. There are a number of ncp car parks in close proximity on The Kingsway & Orchard House. The building offers a prominent, busy location with a range of nearby amenities/occupiers in the City Centre.

Description

A prime City Centre development opportunity available for sale on a long leasehold basis. The property is set out over four floors and benefits from a dual aspect frontage to The Kingsway and Park Street. The Park Street side of the building and the ground floor of the Kingsway side is occupied by The Bunkhouse Swansea Limited on a 10 year lease.

The ground floor access and first and second floors on The Kingsway side of the building are excluded from the under lease and have lapsed planning for 2 x 2 bed self-contained flats, Planning Reference: 2012/1478.

Tenure

The long leasehold of the property is offered for sale, being 125 year from 9th June 2017 and subject to a ground rent which is currently £3,000 p/a.

The property is part let to The Bunkhouse Swansea Limited on the following terms:
- 10 years from September 2018
- Passing rent £15,000 p/a
- Rent Review: 1st September 2023 - Every 3 years thereafter

Asking price

The long leasehold interest in the property is available at an asking price of £220,000

VAT

All figures are exclusive of VAT, where applicable.

Business rates

Interested parties are asked to verify the rates payable by contacting the Local Authority

EPC

The EPC has been commissioned and will be available shortly.

Planning

The property benefits from a lapsed planning consent for 2 x 2 bedroom self contained flats to the Kingsway elevation, planning ref: 2012/1478.