Freehold Town Centre Investments with 44 Year Lease to W M Morrison Plc
Let to WM Morrison Supermarkets Plc until 2064 (no breaks) (1) sublet to Specsavers (2)
44 Years unexpired
Prominent town centre location
Neighbouring occupiers include HSBC, Greggs, Subway, Coral and Nationwide
VAT free investment
Lot 2
Auction 10th December 2020
Rent £43,150 per Annum Exclusive
Status Sold
Price £770,000
Sector High Street Retail
Auction Venue Live Streamed Auction
Property Information
Location
Miles
7 miles north of Cardiff
11 miles west of Newport
Roads
B4600, B4263, A468
Rail
Caerphilly Rail
(direct services to Cardiff Central in 19 mins)
Air
Cardiff International Airport
Situation
Caerphilly is a busy commuter town providing excellent access to both Cardiff and Newport. The property is prominently situated on the west side of Cardiff Road, Caerphilly's primary retailing thoroughfare, approximately 200 metres north of Caerphilly Railway Station. Neighbouring occupiers include HSBC, Greggs, Subway, Coral and Nationwide.
Tenure
Freehold.
Location
Miles
7 miles north of Cardiff
11 miles west of Newport
Roads
B4600, B4263, A468
Rail
Caerphilly Rail
(direct services to Cardiff Central in 19 mins)
Air
Cardiff International Airport
Situation
Caerphilly is a busy commuter town providing excellent access to both Cardiff and Newport. The property is prominently situated on the west side of Cardiff Road, Caerphilly's primary retailing thoroughfare, approximately 200 metres north of Caerphilly Railway Station. Neighbouring occupiers include HSBC, Greggs, Subway, Coral and Nationwide.
Tenure
Freehold.
Description
The property comprises a double shop unit with retail accommodation on the ground floor and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Completion Period
Ten Week Completion
EPC
Band E. See legal pack.
Description
The property comprises a double shop unit with retail accommodation on the ground floor and first floor ancillary accommodation.
VAT
VAT is not applicable to this lot.
Completion Period
Ten Week Completion
EPC
Band E. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
Ground First
Retail Ancillary
165.97 sq m 169.01 sq m
(1,786 sq ft) (1,819 sq ft)
WM MORRISON SUPERMARKETS PLC (CRN358949) (1)(2)
99 years from 24/06/1965 until 2064 on a full repairing and insuring lease
£43,150
24/06/2028 and 24/06/2049 (3)
Total
334.98 sq m
(3,605 sq ft)
£43,150
(1) For the year ending 2nd February 2020 WM Morrison Supermarkets Plc reported a turnover of £17,536,000,000, a pre-tax profit of £435,000,000 and shareholders funds of £4,541,000,000 (Source: NorthRow 12/11/2020). (2) The property has been sublet to Specsavers Optical Superstores Limited on a 10 year lease from 18/03/2016. (3) As to the lease to WM Morrison Supermarkets Plc the rent is reviewed every 21 years on an upward only basis to full rental value.
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.
