jump to content

For Sale : 16 Union Street | 16 Union Street, Swansea, SA1 3EH

Size: 127.1 m2 (1368.5 ft2)|Price: £365,000

Arrange a Viewing

or call us on 01792 648809

Property Details

LOCATION

The property is situated on Union Street which is within the central retail area of Swansea city centre.

It is near to the junction of Union Street with Oxford Street, the city’s prime retail destination and leads to the main entrance of the Quadrant Shopping Centre. Union Street comprises a mix of A1, A2 and A3 premises which are occupied mainly by national retailers.

The subject property is on the upper section of the street and the occupiers of the immediately surrounding properties include Coral, TSB Subway, Ladbrokes, Monmouthshire Building Society and Paddy Power.

DESCRIPTION

The subject property comprises a two storey retail premises which is of traditional construction comprising masonry walls with a rendered external finish and large glazed shop frontage on the ground floor. The property has been extended to the rear.

Internally, the property provides a banking hall on the ground floor with storage and ancillary space at the rear. The property has a first floor area, however, this has been blocked off by the current occupiers and is not used. 

The property fronts directly onto the pavement of Union Street with pedestrian access onto the rear lane for servicing. 

ACCOMMODATION

Description

Sq m

Sq ft

Ground Floor Sales Area

97.54

1050

Agreed ITZA

53.78

578.85

Ground Floor Storage

29.6

318.6

Net Internal Area

127.1

1,368.5

TENANCY

The property is let on a FRI lease on the following terms:-

Tenant

Lease Term

Rent

Rent Review

Leeds Building Society

10 years from 1st January  2017

£33,000 pa

1st January 2022

BUSINESS RATES

Rateable Value £30,500

UBR for Wales 2021/22 53.5 p in the £

Interested parties are asked to verify this information by contacting the local authority.

VIEWING ARRANGEMENTS

Nick Founds

01792 479845

nick@rj-cs.co.uk

Adam Harris

01792 479841

adam@rj-cs.co.uk

EPC

An EPC has been commissioned and will be available shortly.

INVESTMENT SUMMARY

  • Freehold
  • Located in Swansea which is the regional economic centre of south-west Wales and the second largest city in wales
  • 245,000 people live within Swansea
  • Swansea has approximately 24,000 students in its two universities.
  • Swansea lies 50 miles west of Cardiff, adjacent to the M4 Motorway (Junctions 42 - 47)
  • Swansea Train Station provides regular services to Cardiff Central and London, Paddington.
  • The property is let to Leeds Building Society who provide a strong covenant.
  • Long income stream with an unexpired term of 5+ years to lease expiry. Rent review due January 2022 (upward only).

Passing rent of £33,000 p.a. providing a gross initial yield of 9.04%

Location

16 Union Street

Swansea

SA1 3EH

Back to Properties

New Search

Use our filters to find what you need.

Search the properties"

Related content