Office for sale

Location

The property is located within the heart of the Swansea Enterprise Park, prominently positioned fronting Phoenix Way, one of the main access roads, circulating the central lake. Prominent occupiers in the immediate vicinity include Home Bargains, Farm Foods, Greggs, Dreams and Lakeside Vets.

Good access is provided to J44 & 45 of the M4 motorway and easy access to the city centre, some 3 miles to the south.description
The office accommodation comprises of 4 individual suites in a two-storey office building. Shared lobby and toilet facilities exist to the ground and first floor. Externally, the property benefits from shared use of a large car parking area to the side of the building.

Accommodation

Gf Suite 1 641 59.55
gf Suite 2 641 59.55
ff Suite 3 641 59.55
ff Suite 4 641 59.55
Total 2,564 sq ft 238.20 sq M

Rateable value

We have been informed via an online enquiry with the Valuation Office web site, that the property has the following rateable values:

Gf Suite 1: £5,200
gf Suite 2: £5,200
ff Suite 3: £5,200
ff Suite 4 £5,400

ubr for Wales 2024/25 is 0.562p in £.

Tenure

The property is held Long Leasehold for a term of 125 years (less 3 days) from 25 March 1988. Ground Rent £1,430.52pa, subject to review every 5 years to 15% of rack rent.

Copy documentation available on request.

Tenancies

The Property is let on effective full repairing and insuring leases to four separate tenants as set out in the Schedule below.

Proposal

Seeking offers in the region of £275,000 (Two Hundred and Seventy-Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value of £107.25 per sq. Ft, and the following yield profile:

Initial Yield: 10.18%
Assuming standard purchaser’s costs at 2.00%

VAT

All prices, premiums and rents are quoted exclusive of VAT. We are advised the property is not elected for VAT

Further information

For further information or to arrange a viewing, please contact the sole selling agents, Hunt & Thorne Chartered Surveyors.

Jason thorne
will hunt

August 2024