266 / 267 Oxford Street Swansea SA1 3BS

266 / 267 Oxford Street
Swansea
SA1 3BS

High Yielding Prime City Centre Retail Investment

Let to Next Holdings Limited (formerly known as Next Group Plc)
Tenant improvements in 1997 to create additional 3,500 sq ft of trading accommodation at first floor
Prime trading location on pedestrianised Oxford Street, Swansea's principal retailing thoroughfare
Adjacent to large Marks & Spencer store (approximately 95,000 sq ft) including large M&S food operation, and close to H&M, Zara, Flying Tiger, Sports Direct, Primark, Costa and McDonald's
High yielding on Guide Price

Lot
20
Auction
24th October 2019
Rent
£217,625 per Annum Exclusive
Status
Withdrawn Post
Price
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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High Yielding Prime City Centre Retail Investment

Let to Next Holdings Limited (formerly known as Next Group Plc)
Tenant improvements in 1997 to create additional 3,500 sq ft of trading accommodation at first floor
Prime trading location on pedestrianised Oxford Street, Swansea's principal retailing thoroughfare
Adjacent to large Marks & Spencer store (approximately 95,000 sq ft) including large M&S food operation, and close to H&M, Zara, Flying Tiger, Sports Direct, Primark, Costa and McDonald's
High yielding on Guide Price

Lot 20
Auction 24th October 2019
Rent £217,625 per Annum Exclusive
Status Withdrawn Post
Price
Sector
High Street Retail
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 40 miles west of Cardiff; 78 miles west of Bristol
Roads: A483, M4 (J42)
Rail: Swansea
Air: Cardiff Airport

Situation

Swansea is the second largest city in Wales and is located 40 miles west of Cardiff. The property is located on the northern side of the pedestrianised Oxford Street, Swansea's prime retailing thoroughfare in a prominent location between Portland Street and Princess Way, 1.5 miles north-west of Swansea University, Wales' third largest university. Nearby occupiers include Marks & Spencer (95,000 sq ft), H&M, Zara, Flying Tiger, Sports Direct, Primark, Costa and McDonald's.

Tenure

Long Leasehold. Held from Swansea City Council for a term of 125 years from 22nd January 2008 (thus having some 114 years unexpired). The lease is subject to a rent review on 24th March 2024 and 5 yearly thereafter, at a rent of 10% of the occupational rent receivable. The current head rent is £21,750 per annum exclusive.

Location

Miles: 40 miles west of Cardiff; 78 miles west of Bristol
Roads: A483, M4 (J42)
Rail: Swansea
Air: Cardiff Airport

Situation

Tenure

Description

The property comprises a large, well proportioned shop with trading accommodation on the ground and majority of the first floor and ancillary accommodation on the part first and second floors.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk

Description

The property comprises a large, well proportioned shop with trading accommodation on the ground and majority of the first floor and ancillary accommodation on the part first and second floors.

VAT

VAT is applicable to this lot.

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground Part First Part First Second	Retail Retail Ancillary Ancillary	510.96 sq m 313.32 sq m 134.40 sq m 83.73 sq m	(5,500 sq ft) (3,373 sq ft) (1,447 sq ft) (901 sq ft)	NEXT HOLDINGS LIMITED (formerly known as Next Group Plc) (1)	10 years from 25/03/2011 until 24/03/2021 on a full repairing and insuring lease	£217,500
Total		1,042.41 sq m	(11,221 sq ft)			£217,500

(1) For the year ending 26th January 2019, Next Holdings Limited reported a turnover of £215,300,000, pre-tax profits of £738,500 and a total net worth of £946,700,000 (Source: Experian Group 21/08/2019). Next Group Plc changed its name in June 2016 to Next Holdings Limited.
NB: There is an electricity substation let to Western Power Distribution (South West) Plc expiring 12/06/2034 at a rent of £125 p.a. increasing with RPI every five years.