The subject premises comprises a two-storey mixed use investment opportunity situated along the edge of Morriston town centre, within ease of access to the main intersection connecting Sway Road with Woodfield Street.
The premises accommodates a ground floor office unit, which is currently let and occupied by Mike Hedges AM. The first floor accommodates a self-contained two bedroom apartment, which can be accessed independently via an external stairwell to the rear.
The entire premises is currently let, producing a gross rental income of £853 per calendar month (£10,236 per annum).
The property is situated fronting Pleasant Street within Morriston Town Centre, within close proximity to the main intersection linking Sway Road with Woodfield Street. The main retail location in Morriston is on Woodfield Street, which is located within a short walking distance to the subject premises.
Whilst there is no onsite parking, there is some limited parking available on Sway Road, together with nearby Council car parks.
The property provides the following approximate dimensions and areas:
Net Internal Area: 42.44 sq.m (456.82 sq. ft.)
IPMS 3 Offices: 44.66 sq.m (480.72 sq. ft.)
Office: 40.08 sq.m (431.42 sq. ft.)
subdivided in part to accommodate an entrance foyer and reception area with private office room.
Ancillary: 3.08 sq.m (33.15 sq. ft.)
accommodating staff kitchen with door to.
Disabled W.C. Facilities
Gross Internal Area: 51.78 sq.m (557.44 sq. ft.)
accessed via an external steel stairwell, with doors to.
Bedroom 1: 3.02m x 3.28m
Bedroom 2: 2.70m x 3.28m
Kitchen: 2.05m x 3.18m
fitted with a range of wall and base units incorporating sink drainer, wall mounted gas boiler, plumbing for washing machine.
fitted with a three piece suite comprising bath, w.c. and wash hand basin.
Lounge: 4.14m (max) x 4.29m
As stated on the VOA website the Rateable Value for the subject premises is as follows:
Rateable Value (2017): £4,050
From April 2018 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 0.563.
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.
The residential accommodation is rated separately and currently rated under Council Tax Band B.
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).
The subject premises is available Freehold subject to the following Leasehold Agreement(s):
Let to Mike Hedges AM at a current rent passing of £6,600 per annum.
Let to a private individual on an initial Assured Shorthold Tenancy (AST) Agreement at a current rent passing of £303 per calendar month (£3,636 per annum).
By appointment with Sole Agents:
Astleys Chartered Surveyors
Tel: 01792 479 850