Offers in region of
£400,000
(£200.00/sq. ft)
Retail premises for saleFairwater Green, Cardiff CF5
2,000 sq. ft
About this property
Location
The property is situated on Fairwater Green in Fairwater, West Cardiff. Cardiff City Centre is within 3 miles and the area is heavily populated with a number of established national and regional operators. They include Co Op Food, Brutons the Bakers, The Green Deli, Spar, Allied Pharmacy & many others. Fairwater Green is located just over 1.5 miles from St. Fagans National Museum of History, Cardiff CF5 6XB. A very low level of vacant retail premises within this location illustrates that there is strong national and local demand
Description
The property comprises an attractive mixed-use property set across two levels with the ground floor commercial unit offering an open plan retail area, currently occupied by a popular hair/barber operator, with rear ancillary and storage and rear access to the parking area. The ground floor commercial unit has been fully refurbished by the current occupier to a very high spec and is presented in excellent condition throughout.
The first floor provides a very well presented two-bedroom apartment which has been recently refurbished and is accessed via its own separate entrance at the front of the property.
The property provides the following approximate floor areas, which should only act as a guide and not to be relied upon.
Ground Floor Commercial Unit: C. 124.41 sq m / 1,339 sq.ft
First Floor Residential Flat: C. 67.08 sq m / 722 sq ft
Total Area: C. 191.66 sq m / 2061 sq ft
There are two parking spaces to the rear of the property.
Tenancy Summary
Ground Floor Commercial Unit – Let on a 15-year lease from 10 July 2020, expiring on 9 July 2035. The passing rent will increase to £20,000 per annum from July 2026 and will further increase to £21,500 per annum from July 2029 and then £23,000 pa from July 2032 until lease expiry. The tenant is an individual trading as a barber, with a personal guarantor included within the lease.
First Floor Residential Apartment – A well-presented two-bedroom apartment currently let at £995 pcm.
Proposal/Offers
Offers are invited in the region of £400,000- subject to contract. A purchase at this level would reflect an attractive net initial yield (Niy) of c. 7.7%, allowing for purchaser's costs of 3.75%. The Niy will increase further once the Commercial Lease Rental increases in July 2029 in accordance with the fixed stepped rental agreement, as set out within the Lease.
Any sale of the property will be subject to the existing tenancies.
Tenure
Freehold
Legal Costs
Each party is to bear their own legal and professional costs incurred in the transaction.
Energy Performance Certificate
Commercial Unit Epc: 75 (C)
Residential Apartment Epc: 71 (C)
Vat
All figures quoted are exclusive of V.a.t. Where applicable - it is understood that Vat is not applicable.
Anti-Money-Laundering Regulations
The Purchaser will be required to satisfy the Vendor and their agents regarding the source of the funds used to complete the transaction plus providing identification upon request
The property is situated on Fairwater Green in Fairwater, West Cardiff. Cardiff City Centre is within 3 miles and the area is heavily populated with a number of established national and regional operators. They include Co Op Food, Brutons the Bakers, The Green Deli, Spar, Allied Pharmacy & many others. Fairwater Green is located just over 1.5 miles from St. Fagans National Museum of History, Cardiff CF5 6XB. A very low level of vacant retail premises within this location illustrates that there is strong national and local demand
Description
The property comprises an attractive mixed-use property set across two levels with the ground floor commercial unit offering an open plan retail area, currently occupied by a popular hair/barber operator, with rear ancillary and storage and rear access to the parking area. The ground floor commercial unit has been fully refurbished by the current occupier to a very high spec and is presented in excellent condition throughout.
The first floor provides a very well presented two-bedroom apartment which has been recently refurbished and is accessed via its own separate entrance at the front of the property.
The property provides the following approximate floor areas, which should only act as a guide and not to be relied upon.
Ground Floor Commercial Unit: C. 124.41 sq m / 1,339 sq.ft
First Floor Residential Flat: C. 67.08 sq m / 722 sq ft
Total Area: C. 191.66 sq m / 2061 sq ft
There are two parking spaces to the rear of the property.
Tenancy Summary
Ground Floor Commercial Unit – Let on a 15-year lease from 10 July 2020, expiring on 9 July 2035. The passing rent will increase to £20,000 per annum from July 2026 and will further increase to £21,500 per annum from July 2029 and then £23,000 pa from July 2032 until lease expiry. The tenant is an individual trading as a barber, with a personal guarantor included within the lease.
First Floor Residential Apartment – A well-presented two-bedroom apartment currently let at £995 pcm.
Proposal/Offers
Offers are invited in the region of £400,000- subject to contract. A purchase at this level would reflect an attractive net initial yield (Niy) of c. 7.7%, allowing for purchaser's costs of 3.75%. The Niy will increase further once the Commercial Lease Rental increases in July 2029 in accordance with the fixed stepped rental agreement, as set out within the Lease.
Any sale of the property will be subject to the existing tenancies.
Tenure
Freehold
Legal Costs
Each party is to bear their own legal and professional costs incurred in the transaction.
Energy Performance Certificate
Commercial Unit Epc: 75 (C)
Residential Apartment Epc: 71 (C)
Vat
All figures quoted are exclusive of V.a.t. Where applicable - it is understood that Vat is not applicable.
Anti-Money-Laundering Regulations
The Purchaser will be required to satisfy the Vendor and their agents regarding the source of the funds used to complete the transaction plus providing identification upon request
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£2,000 per month
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