Alfred Street, Neath

Description

The subject premises comprises an extended three storey, double fronted, multi-let office building situated along an established high street location within the main professional sector within Neath town centre.

The property, which comprises two mid terraced office buildings interlinked internally over two floors, accommodates various size rooms equating to approximately 10 no. office rooms in total (including a further 2 no. attic rooms), which are supported by a ground floor reception area, staff kitchen and w.c. facilities over both ground and first floor.

We advise that the subject premises is let in the majority, with the exception of the attic room/ single office over No. 37 Alfred Street. The ground floor and part first floor offices are currently occupied by Age Connect for a term of 5 years from 1st November 2023. The remaining offices arranged over the first floor are currently occupied by Concept to Creation Jewellery for a term of 2 years from 1st March 2022. We further advise that the current rent passing is £15,400 per annum.

The subject premises does not benefit from any designated parking facilities but we do advise that the main high street to the front affords a large number of time restricted parking bays.

Location

The property is situated along Alfred Street, which is a recognised office location that occupies a number of estate agents, accountants and solicitors within Neath town centre.

Alfred Street is also located along the periphery of the primary retail area within the town.

The property benefits from a good range of facilities and amenities, including a large bus station, as well as main line railway station, which is approximately 200 metres from the subject premises.

The property is located approximately 3 miles away from the nearest M4 motorway junction (junction 43).

Accommodation Comprises

The subject premises affords the following approximate dimensions and areas:

No. 37 Alfred Street

GROUND FLOOR

Net Internal area: 88.03 sq.m (947.55 sq. ft.)

Communal Entrance Hallway
with stairs to first floor, access to No. 38 Alfred Street, doors to.

Office 1 (Front): 4.58m x 3.47m

Office 2 (Rear): 4.84m x 3.41m
with door to.

Waiting Room: 3.38m x 4.14m
with door to rear garden, door to.

Staff Kitchen: 1.39m x 3.38m
with door to.

W.C. Facilities
comprising two toilet cubicles.

FIRST FLOOR

Net Internal Area: 43.65 sq.m (469.84 sq. ft.)

Landing
with stairs to ground floor, access to No. 38 Alfred Street, doors to.

Office 3/ Workshop (Front): 5.83m x 3.68m

Office 4 (Middle): 3.89m x 3.20m

Office 5 (Rear): 2.28m x 4.47m

Staff Kitchen: 3.34m x 1.45m
with door to.

W.C. Facilities
comprising a small store area and one toilet cubicle.

SECOND FLOOR/ ATTIC

Net Internal Area: 18.62 sq.m (200.42 sq. ft.)

Office 6: 5.32m x 3.77m
access off first floor landing area, with restricted headroom.

No. 38 Alfred Street

GROUND FLOOR

Net Internal Area: 38.56 sq.m (415.05 sq. ft.)

Hallway
with stairs to first floor, access to No. 37 Alfred Street, doors to.

Office 7 (Front): 4.69m x 3.57m

Office 8 (Middle): 3.82m x 3.53m
with doors to.

Store Cupboard

Rear Corridor
with doors to customer waiting area and rear garden, door to.

Office 9 (Rear): 2.23m x 3.79m

FIRST FLOOR

Net Internal Area: 25.22 sq.m (271.46 sq. ft.)

Landing
with stairs to ground floor and access to No. 37 Alfred Street, doors to.

Office 10 (Front): 4.75m x 3.78m

Office 11 (Rear): 3.01m x 3.06m

SECOND FLOOR/ ATTIC

Net Internal Area: 11.68 sq.m (125.72 sq. ft.)

Store Room: 4.72m x 2.70m
access off first floor landing area, with restricted headroom.

Rates

As stated on the VOA website the Rateable Value (2023) for the subject premises is as follows:

Ground Floor (No's. 37-38) and 1st Floor (No. 38) - £7,600
Ground Floor Conference (No. 37) - £1,475
1st Floor (No. 37) - £4,650
2nd Floor (No. 37) - £540

From April 2018 the Welsh Government will set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2023-24 the multiplier will be 0.535.

Rates relief for small businesses in Wales will apply up to 31st March 2020. Rates relief for small business with a rateable value up to £6,000 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.

VAT

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

Terms & Tenure

We advise that the Freehold interest is available for sale, which is subject to the following occupational leases.

Ground and Part First Floor - Let to Age Connect for a term of 5 years from 1st November 2023 at a current rent passing of £7,000 per annum (exclusive).

Part First Floor - Let to private individuals (trading as Concept to Creation Jewellery) for an initial term of 12 months from 1st May 2019, which has been varied and extended further until 29th February 2024, at a current rent passing of £8,400 per annum (exclusive).

Viewing

By appointment with Sole Agents:

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