11 College Street, Swansea, SA1 5AF

The property fronts College Street, a mix use / secondary retail location within Swansea City Centre. Prominent occupiers in the immediate vicinity include Air Wales Ambulance Charity Shop, AWA Grill House, Swansea University Rielscience Centre and Jack’s Kitchen.

DESCRIPTION

A terrace premises, which comprises of a three-storey main building and a single storey rear addition. The property has independent access to the upper floors and benefits from three rear car parking spaces. The property was fully refurbished in 2008

ACCOMMODATION

Ground floor :   133.85 sq m ( 1,441 sq ft )

First floor:            49.27 sq m  (   530 sq ft )

Second floor:       52.31 sq m  (   563 sq ft )

Total:                  235.43 sq m  ( 2,534 sq ft )

RATEABLE VALUE

We have been informed via an enquiry on the valuation office web site that the premises has the following assessments:

Ground floor:  £11,000

First and second floor: £6,100

UBR for Wales 2021/22 is 53.30 in the £

EPC

Ground floor:  Energy rating: C – 70

C/N 2756-5844-3870-3547-7469

First and Second floor: TB

TENURE

The property is held Long Leasehold for a term of 125 years from 14^th November 2008. The current ground rent is £3,540 pa reviewed every 5 years from 14^th November 2013 to open market ground rent or 12% of open market rent, whichever the greater.

TENANCY

The ground floor was recently let to Cancer Research Wales from 10^th January 2022 to 9^thJanuary 2027. There is a tenant break on 9^th January 2025 and a review on the 10^th January 2025. The lease is on FRI terms, via a capped service charge. The current rent is £15,000 pax.

The first and second floors are let to ACO Training Ltd from 22^nd August 2021 to 21^st August 2024, with breaks on 21^st August 2022 and 2023. The lease is on FRI terms, via a service charge capped at £2,000pa. The current rent is £9,500 pax

PRICE

Offers in the region of £285,000

VAT

All prices are exclusive of VAT. Our clients reserve the right to charge vat on all payments.

LEGAL COSTS

Each parties to pay their own legal costs on this transaction.