FOR SALE VIA AUCTION (UNLESS PREVIOUSLY SOLD OR WITHDRAWN) ON 9TH MARCH 2020 AT 3PM AT THE VILLAGE HOTEL, FABIAN WAY, SWANSEA.
The subject premises comprises a steel portal frame light industrial unit arranged over two floors with profile steel cladding situated within an established trading estate within Swansea Enterprise Park.
The unit provides a 433.84 sq.m (4,669.85 sq. ft.) workshop/industrial over the ground floor and office/ancillary accommodation over the mezzanine, supported by additional kitchen and WC facilities.
The premises is located along Lakeside Technology Park within the established trading location of Swansea Enterprise Park.
The M4 Motorway (J44-45) are within 2 miles from the subject premises, while Swansea City Centre is 3 miles south. Additional road links include the main A48, A4067 and the A4217.
The property provides the following approximate dimensions and areas:
Workshop: 172.07 sq.m (1,852.16 sq.ft)
Office/Storage: 41.89 sq.m (450.90 sq.ft)
Loading Area: 38.00 sq.m (409.03 sq.ft)
Ancillary/Office: 149.63 sq.m (1,610.62 sq.ft)
Storage: 32.25 sq.m (347.14 sq.ft)
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.
The residential accommodation is rated separately. 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 (where applicable).
Our client’s interest is available by the way of a Long Leasehold (under terms to be confirmed) to be sold with vacant possession.
Term: 125 years (less the last 3 days) from 25 March 1985
Initial Rent: £1,153 per annum (subject to review)
We have been advised by our client that the current ground rent equates to a sum in the region of £573.17 per quarter.
Estate Service Charge: £1,210 per quarter
We have also been advised that an exceptional service charge levy will be payable, identified in the Lease and correspondence received from the Freeholder as ‘Service Charge B’. We have been informed by our client that the apportioned costs for the subject premises equates to a sum in the region of £19,716, which is for the replacement of a new roof covering for the units situated within the estate. We have been informed that payment of this exceptional service charge levy can either be made in full by June 2020 or via quarterly payments over a term to be verified.
By appointment with Sole Agents:
Astleys Chartered Surveyors
Tel: 01792 479 850