Investment - Let

Pleasant Street, Swansea

Offers In The Region Of
£120,000
  • 1,014 sqft

Property details

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 £10,236 per annum.

  • Description

    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.

  • Location

    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.

  • Accommodation Comprises

    The property provides the following approximate dimensions and areas:

    GROUND FLOOR

    Net Internal Area: 42.44 sq.m (456.82 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

    FIRST FLOOR

    Gross Internal Area: 51.78 sq.m (557.44 sq. ft.)

    Entrance/ Hallway
    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.

    Bathroom
    fitted with a three piece suite comprising bath, w.c. and wash hand basin.

    Lounge: 4.14m (max) x 4.29m

  • Rates

    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 0.535.

    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.

  • VAT

    All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).

  • Terms & Tenure

    The subject premises is available Freehold subject to the following Leasehold Agreement(s):

    GROUND FLOOR
    Let to Mike Hedges AM at a current rent passing of £6,600 per annum.

    FIRST FLOOR
    Currently vacant but with a potential rental income in the region of £425 per calendar month (£5,100 per annum).

  • Viewing

    By appointment with Sole Agents:

    Astleys Chartered Surveyors
    Tel: 01792 479 850
    Email: commercial@astleys.net

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  • Interested in this property?

    Astleys Commercial branch: 01792 479850commercial@astleys.net Raglan House Charter Court Phoenix Way Enterprise Park Swansea SA7 9DD Click to Enquire