Entirely let to Barclays Bank plc until 2023 (no breaks)
Prominent corner position in busy town centre location
Nearby occupiers include Marks & Spencer, Lloyds Bank, Starbucks, Next and Topman
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 25
Auction 7th July 2016
Rent £175,000 per Annum Exclusive
Status Sold
Price £1,750,000
Sector Bank
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
12 miles east of Llanelli, 38 miles west of Cardiff
Roads
A4118, A4067, A483, M4 (Junction 47)
Rail
Swansea Rail
Air
Cardiff International Airport
Situation
The property is situated in a prominent corner position within Swansea City Centre on the northern side of Oxford Street, Swansea’s prime retailing thoroughfare. The property is located opposite an entrance to Swansea indoor market and close to the Quadrant Shopping Centre which adjoins Swansea Bus Station and houses occupiers such as Debenhams, Boots, Body Shop and Schuh. Other nearby occupiers include Marks & Spencer, Lloyds Bank, Starbucks, Next and Topman.
Tenure
Long Leasehold. Held from Swansea City Council for a term of 125 years from 29th September 1995 at rent equivalent to 10% of rents received, reviewed in line with the occupational lease. The current ground rent is therefore £17,500 p.a.
Location
Miles
12 miles east of Llanelli, 38 miles west of Cardiff
Roads
A4118, A4067, A483, M4 (Junction 47)
Rail
Swansea Rail
Air
Cardiff International Airport
Situation
The property is situated in a prominent corner position within Swansea City Centre on the northern side of Oxford Street, Swansea’s prime retailing thoroughfare. The property is located opposite an entrance to Swansea indoor market and close to the Quadrant Shopping Centre which adjoins Swansea Bus Station and houses occupiers such as Debenhams, Boots, Body Shop and Schuh. Other nearby occupiers include Marks & Spencer, Lloyds Bank, Starbucks, Next and Topman.
Tenure
Long Leasehold. Held from Swansea City Council for a term of 125 years from 29th September 1995 at rent equivalent to 10% of rents received, reviewed in line with the occupational lease. The current ground rent is therefore £17,500 p.a.
Description
The property comprises a corner unit providing banking hall and ancillary accommodation on the ground floor with ancillary accommodation on first and second floors.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a corner unit providing banking hall and ancillary accommodation on the ground floor with ancillary accommodation on first and second floors.
VAT
VAT is applicable to this lot.
Viewings
There will be block viewings for this property. Interested parties must register their details with the Auctioneers and provide identification on site. Please contact Georgina Roberts. Telephone: +44 (0)20 7034 4863.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First Second
Banking Hall/Ancillary Ancillary Ancillary
200.20 sq m 188.50 sq m 196.49 sq m
(2,155 sq ft) (2,029 sq ft) (2,115 sq ft)
BARCLAYS BANK PLC (1)
10 years from 23/05/2013 until 22/05/2023 on a full repairing and insuring lease
£175,000
23/05/2018
Totals
585.19 sq m
(6,299 sq ft)
£175,000
(1) For the year ending 31st December 2015, Barclays Bank plc reported pre-tax profits of £2,841,000,000 and a total net worth of £55,845,000,000. (Source: www.riskdisk.com 14/11/2014)
