4/5 Oxford Street Swansea West Glamorgan SA1 3AE

4/5 Oxford Street
Swansea
West Glamorgan
SA1 3AE

Prime Retail Investment

Let to River Island Clothing Co. Limited
Highly profitable store turned over 1.86 Million net of VAT in 2019 (3)
Rent rebased from 250,000 p.a.x.
Prime City Centre Location
Directly opposite Marks & Spencer
Neighbouring occupiers include Sports Direct, H&M, Costa Coffee, Lloyds Bank, Barclays Bank and McDonald's

Lot
10
Auction
9th July 2020
Rent
£125,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction

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Prime Retail Investment

Let to River Island Clothing Co. Limited
Highly profitable store turned over 1.86 Million net of VAT in 2019 (3)
Rent rebased from 250,000 p.a.x.
Prime City Centre Location
Directly opposite Marks & Spencer
Neighbouring occupiers include Sports Direct, H&M, Costa Coffee, Lloyds Bank, Barclays Bank and McDonald's

Lot 10
Auction 9th July 2020
Rent £125,000 per Annum Exclusive
Status Sold Prior
Price
Sector
High Street Retail
Auction Venue
Live Streamed Auction

Property Information

Location

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

Situation

The property is prominently located in the heart of Swansea City Centre, 1.5 miles north-west of Swansea University, on the south side of the busy pedestrianised Oxford Street, Swansea's prime retailing thoroughfare. Neighbouring occupiers include Sports Direct, H&M, Costa Coffee, Lloyds Bank, Barclays Bank and McDonald's.

Tenure

Long Leasehold. Held from the Council of the City and County of Swansea for a term of 150 years from 29th September 2011 until 2161 at a current rent reserved of 12,500 per annum exclusive. The rent is geared to 10% of the open market rent. The lease provides for the rent to be reviewed downwards or upwards in 2023 and 5 yearly.

Location

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

Situation

Tenure

Description

The property comprises a large, well proportioned shop with retail accommodation on the ground floor and ancillary accommodation on the first and second floors. The third floor is not currently being used by the tenant and there is no internal access between the second and third floors.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band C. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
Ground First Second	Retail Ancillary Ancillary	397.76 sq m 312.20 sq m 72.09 sq m	(4,281 sq ft) (3,361 sq ft) (776 sq ft)	RIVER ISLAND CLOTHING CO. LIMITED (1)	5 years from 25/03/2019 (2)	£125,000	24/03/2024
Third	Not currently used	not measured		RIVER ISLAND CLOTHING CO. LIMITED (1)	5 years from 25/03/2019 (2)	£125,000	24/03/2024
Total		263.55 sq m	(2,837 sq ft)			£125,000

(1) For the year ending 29th December 2018, River Island Clothing Company Limited reported a turnover of 877,700,000, a pre-tax profit of 45,300,000 and shareholders funds of 341,500,000 (Source: SmartSearch 16/06/2020).
(2) The lease provides for a tenant option to determine on 25/03/2022.
(3) The tenants turnover information was provided to the seller, by the tenant.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.