125 Bute Street Cardiff Bay Cardiff CF10 5AE

125 Bute Street
Cardiff Bay
Cardiff
CF10 5AE

Freehold Bank and Office Investment with Asset Management and Development Potential

Part let to National Westminster Bank Plc
Separately accessed offices above, part under offer and part offered vacant
Approx. 3,500 sq ft in mixed commercial and residential location in the heart of Cardiff Bay
Change of use & redevelopment potential (subject to consents)
Prominent corner location approximately one mile south of Cardiff City Centre
Close to Cardiff Bay Railway Station (approx. 250 metres), Welsh Assembly Buildings Mermaid Quay, The Millennium Centre and The Senedd Building
VAT-free Investment

Lot
4
Auction
22nd September 2022
Rent
£30,420 per Annum Exclusive
(2)
Status
Sold Post
Price
Sector
Development
Auction Venue
Live Streamed Auction

Important Update

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Freehold Bank and Office Investment with Asset Management and Development Potential

Part let to National Westminster Bank Plc
Separately accessed offices above, part under offer and part offered vacant
Approx. 3,500 sq ft in mixed commercial and residential location in the heart of Cardiff Bay
Change of use & redevelopment potential (subject to consents)
Prominent corner location approximately one mile south of Cardiff City Centre
Close to Cardiff Bay Railway Station (approx. 250 metres), Welsh Assembly Buildings Mermaid Quay, The Millennium Centre and The Senedd Building
VAT-free Investment

Lot 4
Auction 22nd September 2022
Rent £30,420 per Annum Exclusive (2)
Status Sold Post
Price
Sector
Development
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 45 miles west of Bristol, 42 miles east of Swansea
Roads: A48, A4161, M4 (Junction 32)
Rail: Cardiff Bay Railway Station
Air: Cardiff Airport

Situation

The property is located in a popular mixed residential and commercial location in the heart of Cardiff Bay, approximately one mile south of the City Centre. The property is situated in a prominent corner location at the junction of Bute Street and West Bute Street close to the Cardiff Bay Railway Station, Mermaid Quay, The Millennium Centre and The Senedd Building. Nearby occupiers include Sainsbury's, Dominos and numerous independent retailers.

Tenure

Freehold.

Location

Miles: 45 miles west of Bristol, 42 miles east of Swansea
Roads: A48, A4161, M4 (Junction 32)
Rail: Cardiff Bay Railway Station
Air: Cardiff Airport

Situation

Tenure

Freehold.

Description

The property comprises a former bank arranged on the basement and ground floors & separately accessed offices arranged on the first and second floors.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 week completion.

EPC

See legal pack.

Description

The property comprises a former bank arranged on the basement and ground floors & separately accessed offices arranged on the first and second floors.

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% excluding VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

6 week completion.

EPC

See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground Basement	Bank/Ancillary Ancillary	88.69 29.32	(955) (316) -	NATIONAL WESTMINSTER BANK PLC (1)	Approx. 21 years from 09/06/2005 expiring on 23/06/2026	£18,920	24/06/2025
First	Office	118.66	(1,277)	UNDER OFFER (2)	Terms Agreed for New Lease (2)	-	-
Second	Office	88.60	(954)	C.HEAVEN	5 years from 01/12/2017	£11,500	-
Total		325.27	(3,502)			£30,420 (2)

(1) For the year ending 31st December 2021, National Westminster Bank Plc reported a turnover of £12,785,000,000, a pre-tax profit of £4,032,000,000 and shareholder funds of £41,796,000,000. The tenant is not currently in occupation.
(2) Terms have recently been agreed with Cancer Research Wales for a new 5 year lease, with a tenant only break option at the end of year 3, outside the Security of Tenure Provisions of the Landlord & Tenant Act, at a rent of £8,000 pax, with half rent for the first 6 months of the term - please see legal pack.

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.