Recently renewed 5 year lease from September 2022 (no breaks)
Large store - approximately 5,610 sq ft
Includes land to the rear offered vacant
VAT free investment
Nearby occupiers include Iceland, Wilko, Poundland, Greggs, Domino's, JD Wetherspoon and Card Factory
Development Potential to include Residential (subject to lease and planning)
Lot 45
Auction 13th July 2023
Rent £35,000 per Annum Exclusive (2)
Status Sold
Price £234,000
Sector High Street Retail
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
9 miles north of Bridgend, 16 miles east of Swansea, 40 miles north-west of Cardiff
Roads
A4063, A4064, M4
Rail
Maesteg Train Station
Air
Cardiff Airport
Situation
Maesteg is a popular historic, market town situated within the borough of Bridgend. The property is prominently located on Commercial Street, which is one of the busiest retailing streets in Maesteg. Nearby occupiers include Iceland, Wilko, Poundland, Greggs, Domino's, JD Wetherspoon and Card Factory.
Tenure
Freehold.
Location
Miles
9 miles north of Bridgend, 16 miles east of Swansea, 40 miles north-west of Cardiff
Roads
A4063, A4064, M4
Rail
Maesteg Train Station
Air
Cardiff Airport
Situation
Maesteg is a popular historic, market town situated within the borough of Bridgend. The property is prominently located on Commercial Street, which is one of the busiest retailing streets in Maesteg. Nearby occupiers include Iceland, Wilko, Poundland, Greggs, Domino's, JD Wetherspoon and Card Factory.
Tenure
Freehold.
Description
The property comprises a large ground floor shop with ancillary accommodation arranged on the first floor. The property also includes vacant land to the rear which is outside the demise of the tenant. The site offers redevelopment potential to include residential subject to the current lease and planning.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Description
The property comprises a large ground floor shop with ancillary accommodation arranged on the first floor. The property also includes vacant land to the rear which is outside the demise of the tenant. The site offers redevelopment potential to include residential subject to the current lease and planning.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
Band D
Tenancy & Accommodation
Floor
Use
Floor Areas Approx sq m (1)
Floor Areas Approx sq ft (1)
Tenant
Term
Rent p.a.x.
Ground First
Retail/Ancillary Ancillary
279.00 242.20
(3,003) (2,607)
PEACOCKS STORES PROPERTIES LIMITED (3)
5 years from 09/09/2022 (4)
£35,000 (2)
Total
522.76
(5,610)
£35,000 (2)
(1) Areas provided by VOA (www.gov.uk/find-business-rates) (2) The passing rent under the current terms of the lease is £35,000 p.a.x. until 09/09/2024 when rent reduces to £25,000 p.a.x. - please see lease (3) Peacocks has been established since 1884 and trade from over 300 stores across the UK with approximately 6,000 employees (www.peacocks.co.uk). (4) The lease is contracted outside the Security of Tenure provisions of the Landlord and Tenant Act 1954.
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.
