Let to The Secretary of State for Communities and Local Government on a renewed lease until 2027 (no breaks)
Town centre location
Adjacent to the town’s main car park (454 spaces)
The tenant has been in occupation since at least 1995
Long term residential redevelopment potential (subject to consents)
Nearby occupiers include Topshop, H&M, River Island, Next, Costa Coffee and Pizza Express
Lot 18
Auction 5th December 2018
Rent £65,000 per Annum Exclusive
Status Sold
Price £821,000
Sector Office
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
30 miles north-west of Swansea
Roads
A40, A48, A483, M4
Rail
Carmarthen Railway Station
Air
Swansea Airport
Situation
The property is prominently situated in the heart of the town centre, between the town’s main car park (454 spaces), the central redeveloped retailing zone and St Catherine’s Walk. Nearby occupiers include Topshop, H&M, River Island, Next, Costa Coffee and Pizza Express.
Tenure
Freehold.
Location
Miles
30 miles north-west of Swansea
Roads
A40, A48, A483, M4
Rail
Carmarthen Railway Station
Air
Swansea Airport
Situation
The property is prominently situated in the heart of the town centre, between the town’s main car park (454 spaces), the central redeveloped retailing zone and St Catherine’s Walk. Nearby occupiers include Topshop, H&M, River Island, Next, Costa Coffee and Pizza Express.
Tenure
Freehold.
Description
The property, an attractive former church building, comprises office accommodation on the ground, first and second floors. The offices benefit from suspended ceilings with inset lighting. The property may be suitable for long term residential redevelopment (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at acuitus.co.uk
Description
The property, an attractive former church building, comprises office accommodation on the ground, first and second floors. The offices benefit from suspended ceilings with inset lighting. The property may be suitable for long term residential redevelopment (subject to consents).
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
Band C. See legal pack at acuitus.co.uk
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First Second
Office Office Office
277.8 sq m 258.7 sq m 245.6 sq m
(2,990 sq ft) (2,785 sq ft) (2,644 sq ft)
THE SECRETARY OF STATE FOR COMMUNITIES AND LOCAL GOVERNMENT t/a Job Centre Plus
From 01/04/2018 until 31/03/2027 on a full repairing and insuring lease (1)
£65,000 (2)
31/03/2023
Total
782.1 sq m
(8,419 sq ft)
£65,000 (2)
(1) The lease is on full repairing and insuring terms subject to an arrangement during the period where the Government or a Government Department is the tenant where generally the Government will be self-insuring i.e. there is no requirement for the tenant to insure and no entitlement for the landlord to reinstatement as set out in Schedule 9 of the Lease. (2) The lease provides for a rent free period from 1st April 2018 until 1st January 2020. The seller will pay the buyer monies equivalent to £65,000 per annum exclusive from completion of the sale until the end of the rent free period. Therefore the property will produce £65,000 per annum exclusive from the completion of the sale.
