Acorn House, Lion Way, Swansea Enterprise Park, SA7 9FZ
- Property Type: Investment
- Size: 238 sq m (2,564 sq ft)
- MULTI-LET OFFICE INVESTMENT
- TWO-STOREY BUILDING LOCATED IN THE HEART OF SWANSEA ENTERPRISE PARK
- FULLY LET TO ON LEASES EXPIRING BETWEEN AUGUST AND DECEMBER 2026
- FOUR SELF-CONTAINED OFFICE SUITES OF 641 SQ FT (2,564 SQ FT IN TOTAL)
- CURRENT GROSS INCOME £28,000 PAX
- OFFERS IN THE REGION OF £275,000
The property is located within the heart of the Swansea Enterprise Park, prominently positioned fronting Phoenix Way, one of the main access roads, circulating the central lake. Prominent occupiers in the immediate vicinity include Home Bargains, Farm Foods, Greggs, Dreams and Lakeside Vets.
Good access is provided to J44 & 45 of the M4 motorway and easy access to the city centre, some 3 miles to the south.
DESCRIPTION
The office accommodation comprises of 4 individual suites in a two-storey office building. Shared lobby and toilet facilities exist to the ground and first floor. Externally, the property benefits from shared use of a large car parking area to the side of the building.
ACCOMMODATION
| GF Suite 1 | 641 | 59.55 |
| GF Suite 2 | 641 | 59.55 |
| FF Suite 3 | 641 | 59.55 |
| FF Suite 4 | 641 | 59.55 |
| Total | 2,564 SQ FT | 238.20 SQ M |
RATEABLE VALUE
We have been informed via an online enquiry with the Valuation Office web site, that the property has the following rateable values:
GF Suite 1: £5,200
GF Suite 2: £5,200
FF Suite 3: £5,200
FF Suite 4 £5,400
UBR for Wales 2024/25 is 0.562p in £
TENURE
The property is held Long Leasehold for a term of 125 years (less 3 days) from 25 March 1988. Ground Rent £1,430.52pa, subject to review every 5 years to 15% of rack rent.
Copy documentation available on request.
TENANCIES
The Property is let on effective full repairing and insuring leases to four separate tenants as set out in the Schedule below
PROPOSAL
Seeking offers in the region of £275,000 (Two Hundred and Seventy-Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value of £107.25 per sq. ft, and the following yield profile:
Initial Yield: 10.18%
Assuming standard purchaser’s costs at 2.00%
VAT
All prices, premiums and rents are quoted exclusive of VAT. We are advised the property is not elected for VAT
FURTHER INFORMATION
For further information or to arrange a viewing, please contact the sole selling agents, Hunt & Thorne Chartered Surveyors.
JASON THORNE
07387 188482
WILL HUNT
07557 090164
AUGUST 2024