59-61 Cardiff Road Caerphilly Mid Glamorgan CF83 1FP

59-61 Cardiff Road
Caerphilly
Mid Glamorgan
CF83 1FP

Freehold Town Centre Investment with 41 Year Lease to WM Morrison Supermarkets Limited

Let to WM Morrison Supermarkets Limited until 2064 (no breaks) and sublet to Specsavers
41 Years unexpired
Prominent town centre location
Neighbouring occupiers include New Look, JD Wetherspoon, Greggs, Subway and HSBC
VAT free investment

Lot
23
Auction
16th February 2023
Rent
£43,150 per Annum Exclusive
Status
Sold Post
Price
Auction Venue
Live Streamed Auction

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Freehold Town Centre Investment with 41 Year Lease to WM Morrison Supermarkets Limited

Let to WM Morrison Supermarkets Limited until 2064 (no breaks) and sublet to Specsavers
41 Years unexpired
Prominent town centre location
Neighbouring occupiers include New Look, JD Wetherspoon, Greggs, Subway and HSBC
VAT free investment

Lot 23
Auction 16th February 2023
Rent £43,150 per Annum Exclusive
Status Sold Post
Price
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 New Look, JD Wetherspoon, Greggs, Subway and HSBC.

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

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

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s 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

Six Week Completion

EPC

The EPC will be available to view online in the solicitor’s 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 First	Retail/Ancillary Ancillary	165.97 169.01	(1,786) (1,819)	WM MORRISONS SUPERMARKETS LIMITED (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	(3,605)			£43,150

(1) WM Morrisons Supermarkets Limited has been re-registered at Companies House to WM Morrisons Limited as at 17/11/2021. For the nine months ending 31/10/2021, WM Morrisons Supermarkets Limited reported a turnover of £13,483,000,000 and a net worth of £4,184,000,000 (Source: NorthRow 19/01/2023)
(2) The property has been sublet to Specsavers Optical Superstores Limited on a 10 year lease from 18/03/2016. For the year ending 28/08/2022, Specsavers Optical Superstores Limited reported a turnover of £3,354,820,000, a pre-tax profit of £445,957,000 and shareholders funds of £276,928,000 (Source: NorthRow 17/01/2023).
(3) As to the lease to WM Morrison Supermarkets Limited 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.