The property comprises a former banking premises situated over ground floor, which is positioned on a prominent main road location along one of the main thoroughfares that links Swansea City Centre to its surrounding catchment area.
The premises comprises the main retail area, which is sub-divided in part to the side to accommodate additional office rooms, staff kitchen and w.c facilities. The premises has also been extended to the rear to accommodate an additional strong room.
The rear of the site accommodates a small secure courtyard. We have been advised that although there appears to be vehicular access available over a rear lane, via Armine Road, there is currently no documentation to confirm that adequate rights have been obtained.
The subject premises is located along a busy main road location along Carmarthen Road within Fforestfach.
The premises fronts the main A483, which is one of Swansea’s main distribution roads that links Swansea City Centre to is surrounding catchment area and furthermore West Wales via the M4 Motorway (J47), which is 3 miles from the subject premises.
A number of time restricted parking bays are situated direct opposite the subject premises.
The property provides the following approximate dimensions and areas:
Sales Area: 80.30 sq.m (864 sq. ft)
Shop Depth: 13.94m (45’9″)
Net Frontage: 3.87m (12’8″)
Ancillary: 46.22 sq.m (497 sq. ft)
Office 1: 2.11m x 2.93m
Office 2: 3.24m x 4.25m
Staff Kitchen: 3.22m x 3.03m
Strong Room: 5.51m x 3.04m
Ladies/ Gents W.C. Facilities
As stated on the VOA website the Rateable Value for the subject premises is as follows:
Rateable Value (2017): £12,750
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 Underlease.
We advise that our client’s interest is held for a term of 20 years from 6 December 2016.
We further advise that the proposed new letting will be subject to a restrictive user clause not to permit its use as a convenience store.
By appointment with Sole Agents:
Astleys Chartered Surveyors
Tel: 01792 479 850