The subject property comprises a ground floor retail unit with ancillary staff and w.c. facilities to the rear.
The main sales area, which accommodates a modern sales display frontage, is currently occupied for use as a property sales and lettings agent (A1/A2 Use Class).
The premises is situated directly off the main pedestrian walkway, along a prominent main road position, which is considered to be an established secondary trading location.
The premises is located along The Kingsway within a short walking distance to the prime retail area of Oxford Street in the City Centre.
There is a mixture of national and local traders with retail, office and food uses close by. Established occupiers within close proximity include Specsavers, The Dragon Hotel, The Gym Group and Coffee No1.
We further advise that the premises is located within the immediate vicinity of the Kingsway/ Orchard Street Regeneration Scheme. This includes a Digital Village comprising approximately 100,000 sq. ft. of tech and employment space, which is already under construction.
The property provides the following approximate dimensions and areas, measured on a Net Internal Area (NIA) basis:
Sales: 74.20 sq.m. (798.68 sq. ft.)
Shop Depth: 15.28m (50’2″)
Internal Width: 5.48m (18’0″)
Net Frontage: 4.80m (15’9″)
Staff Kitchen: 2.99 sq.m (32.18 sq. ft.)
As stated on the VOA website the Rateable Value for the subject premises is as follows:
Rateable Value (2017): £11,500
From April 2019 the Welsh Government will set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2019-20 the multiplier will be 0.526.
Rates relief for small businesses in Wales will apply up to 31st March 2019. Rates relief for small business with a rateable value up to £6000 will receive 100% relief and those with a rateable value between £6,001 and 12,000 will receive relief that will be reduced on a tapered basis from 100% to zero.
We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit www.voa.gov.uk.
All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).
Our client’s interest is available by the way of a new effective Full Repairing and Insuring Lease (under terms to be negotiated).
By appointment with Sole Agents:
Astleys Chartered Surveyors
Tel: 01792 479 850