Let to South West Police Authority until 2022 (no breaks)
Tenant option to determine the lease in February 2017 NOT exercised
Comprises approximately 806.28 sq m (8,680 sq ft)
Swansea’s principle business park some 2 miles south-west of the M4
Nearby occupiers include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea
Producing £59,125 per annum exclusive (Gross) £55,403 (Net) subject to note 1
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 102
Auction 13th October 2016
Rent £59,125 per Annum Exclusive
Status Sold
Price £400,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
On the Instructions of Joint LPA Receivers
Property Information
Location
Miles
3 miles north-east of Swansea
38 miles west of Cardiff
Roads
M4 (Junction 44), A465, A483
Rail
Swansea Railway Station
Air
Cardiff Airport
Situation
The property is situated on Swansea's well established principle and business park some 3 miles north east of Swansea City Centre and some 2 miles south of the M4 (Junction 44). Nearby occupiers on Swansea Enterprise Park include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea.
Tenure
Long Leasehold. Held until 2110 at a current rent reserved of £3,722 per annum exclusive. The rent is subject to open market rent reviews to ground rental value. The next review due on 25th March 2020.
Location
Miles
3 miles north-east of Swansea
38 miles west of Cardiff
Roads
M4 (Junction 44), A465, A483
Rail
Swansea Railway Station
Air
Cardiff Airport
Situation
The property is situated on Swansea's well established principle and business park some 3 miles north east of Swansea City Centre and some 2 miles south of the M4 (Junction 44). Nearby occupiers on Swansea Enterprise Park include Tesco Extra, Lloyds and Barclays Bank and Mercure Hotel Swansea.
Tenure
Long Leasehold. Held until 2110 at a current rent reserved of £3,722 per annum exclusive. The rent is subject to open market rent reviews to ground rental value. The next review due on 25th March 2020.
Description
The property comprises a modern office building with accommodation on ground and first floor and benefits from car parking for approximately 13 cars.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern office building with accommodation on ground and first floor and benefits from car parking for approximately 13 cars.
VAT
VAT is not applicable to this lot.
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Completion Period
Six Week Completion
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
Reversion
Ground First
Office Office
403.14 sq m 403.14 sq m
(4,380 sq ft) (4,380 sq ft)
SOUTH WALES POLICE AUTHORITY
15 years from 14/02/2007 on a full repairing and insuring lease
£59,125 (1)
13/02/2022
Totals
806.28 sq m
(8,680 sq ft)
£59,125 (1)
(1) There is a tenant option to determine the lease on 14th February 2017. The tenant has NOT exercised the tenant option to determine the lease and therefore the tenant will benefit from a reduced rent of £52,725 per annum exclusive from 14/02/2017 until the end of the term.
