DescriptionThe Kingsway Shopping Centre comprises a covered scheme with pedestrian access from John Frost Square and Commercial Street. The scheme is currently arranged to provide 36 retail units (although capable of further subdivision), office accommodation, gym, and car park. The retail units trade at ground floor level, with some benefiting from basement and first floor ancillary accommodation. In addition there is a gym at first floor level. The retail, ancillary and gym accommodation totals 17,093 sq m (183,993 sq ft) (1). The sale also includes Sovereign House, a substantial seven storey vacant office building of approximately 3,014 sq m (32,445 sq ft) (1), sitting above the shopping centre which may be suitable for future change of use subject to obtaining the necessary consents and permissions.
The site upon which Emlyn House currently stands, on the western side of the site has been sold off on a sub-lease to a local housing association. Under the terms of this current sub-lease, there is an obligation on the buyer to deliver a cleared site for development. Further details are available within the legal pack.
There are two separate car park areas at basement level providing approximately 40 spaces. The Dolman House Theatre also forms part of the sale although this has also been sold off on a long lease.
Current tenants within the Kingsway Shopping Centre include Sainsbury's, PureGym, Starbucks, Bonmarche, JobCentre and Wilko's. The current gross income is approximately £1,198,937 per annum. A full tenancy schedule together with an estimated yearly Net Operating Income is available to view within the solicitor's legal pack.
(1) The total approximate Net Internal Floor Areas have been provided by the Seller. These are for use as a guide only and do not form part of the contract of sale.
NoteThis property is being marketed for sale on behalf of Joint LPA Receivers and therefore no warranties, representations or guarantees are given or will be given in respect of the information in this brochure or any matter relating to the property, including VAT. Any information provided is provided without liability for any reliance placed on it and the Receivers are acting without personal liability. The Receivers are not bound to accept the highest or any offer.
