Retail premises for sale

Old Church Road, Cardiff CF14

Property Summary
Prominent corner positioned building located within this very popular North Cardiff suburb, with a mix of national and local occupiers trading nearby

The property benefits from a private car park located to the rear of the property providing a number of demised spaces – offering potential future development opportunities Stp
Public car park also located directly behind the subject property

Part-let investment with a vacant ground floor retail unit and a first-floor office unit which is occupied by an established tenant, providing a strong covenant

Excellent opportunity for both investors and owner-occupiers

Separate access to first floor – offering potential future resi conversion opportunities – subject to planning

Opportunity to increase rental income by re-letting the ground floor retail unit

Full Details
Location
The property occupies a prominent trading location on Old Church Road in the very popular affluent suburb of Whitchurch, North Cardiff. Whitchurch lies approximately 4 miles Northwest of Cardiff City Centre and approximately 1½ miles from Junction 32 of the M4. There are regular bus routes servicing Merthyr Road. Old Church Road is located just off Merthyr Road, which is the primary retail thoroughfare where there is a range of shops, restaurants and other local businesses whilst Whitchurch High School is just a short walk away.
The suburb of Whitchurch is considered to be a vibrant retail and leisure location with a number of established multiple and independent retail and leisure brands including Villaggio Pizzeria, Glass of Bandol, Ground, Fino Lounge, Coffi Lab, Greggs, Coffee #1, Parsons Bakery, Tin Mill (Amber Taverns), Co-Op Food, Domino's, Boots, Peacocks and many others. Whitchurch is also home to a number of professional business occupiers including Harding Evans Solicitors, pje Solicitors, Hodge Bakshi Accountants & others. In terms of customer/client parking, the property has a number of parking spaces included at the rear of the property within the private car park and public car parking is provided at the Merthyr Road pay and display car park, also located immediately behind the subject property, making this the ideal trading spot within the heart of Whitchurch.

Description
The property is located in a very prominent corner position near the junction of Merthyr Road and Old Church Road, which benefits from a very high level of passing traffic and footfall. This attractive two-story traditional property, which has been extended to the rear, includes a private car park located to the rear, with up to 5 parking spaces in total, with 1 space demised to the first-floor office occupier. There is a further benefit that the main public pay & display car park (free for up to 30 mins) is located directly behind the subject property, making this property easily accessible.
The ground floor retail unit, which benefits from a glazed shopfront fronting onto Old Church Road, has an open plan layout, which would suit a range of retail uses. The retail unit has most recently been occupied by a very well-established Musical instrument shop, who have occupied the shop for over 30 years, so this presents an exciting and rare leasing opportunity for a business to acquire a retail premises located within an excellent suburban trading location in North Cardiff. The retail unit would suit a range of similar uses including but not limited to retail, hair & beauty, coffee/bakery, financial services, offices etc, subject to covenant and planning consent. The unit also benefits from external and internal roller shutters.
The first floor provides a self-contained modern office suite which benefits from its own independent access via the rear of the property and adjacent to the private car park and this is currently occupied by an established firm of solicitors. The office suite is very well presented and is carpeted throughout with surface-mounted LED lighting panels and gas central heating. There are two main office rooms in addition to a staff room/kitchen, two WCs and a spacious corridor offering additional storage space.
The property provides the following approximate floor areas, which should only act as a guide and not to be relied upon as all interested parties should verify the floor areas whilst on site.

Ground Floor Retail Unit:-
Retail Area: C. 73.00 sq m / 785 sq ft
Rear storage: C. 3.00 sq m / 32 sq ft
Staff Kitchen & WC: C. 5.21 sq m / 56 sq ft
Total gf Area: C. 81.21 sq m / 874 sq ft

First Floor Office:
C. 73.53 sq m / 791 sq ft (including corridor)
Alternatively, based on the existing layout, the estimated NIA is c. 63.11 sq m / 679 sq ft

Total Combined Floor Area: C. 154.74 sq m / 1665 sq ft

Tenure
Freehold - Title number Wa166563

Tenancies
Ground Floor Retail Unit - To be sold with Vacant Possession. In our opinion, the estimated rental value upon re-letting would be in the region of £17,500 pax.

First Floor Office – To be sold subject to the existing tenancy, with a brief summary as follows:-
Tenant: Harding Evans Limited Liability Partnership (Oc311802)
Lease Term: The Lease commenced on 12th August 2024 with expiry on 7th February 2028
Passing Rental: £14,000 per annum exclusive
Effectively Fri Lease subject to a Service Charge
The lease is excluded from the Landlord & Tenant Act 1954
The office tenant has 1 parking space demised within their Lease

Proposal / Offers
Offers are invited in the region of £419,500 - subject to contract.
Any sale of the property will be subject to the existing tenancies.

Legal Costs
Each party is to bear their own legal and professional costs incurred in the transaction.

Epc
Retail Unit Epc: 55 (C)
First Floor Office Epc: 70 (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