icons_size_white icons_size
menu

Agent's details

High Street Retail Investment

For sale: £585,000.00|754 - 7,142 Sq Ft|General Retail, Retail

Property details

FOR SALE£585,000.00
SIZE754 - 7,142 Sq Ft
ADDRESS28 GREAT DARKGATE STREET, ABERYSTWYTH SY23 1DE
TYPEGeneral Retail, Retail
TENUREFreehold, For Sale Freehold, For Sale Freehold
POSTED ON22nd October 2021

Description

LOCATION Aberystwyth is university town located on Cardigan Bay on the west coast of Wales and is often referred to as the capital of Mid-Wales. Aberystwyth is located approximately 73 miles north of Swansea, approximately 99 miles north west of Cardiff and approximately 236 miles north west of London. SITUATION Retailing in Aberystwyth is concentrated on Great Darkgate Street, where the property is located to the south side of the street in a prime retailing position. Aberystwyth Beach together with its amenities, including Royal Pier Arcade is a short 5 minute walk to the north. There are numerous pay and display parking options available within the town. DESCRIPTION A mid-terrace building of concrete framed construction forming part of the prime retailing parade, probably constructed in the 1960’s/70’s, arranged over ground and first floors (underutilised by the current tenant) with access to the rear via Queens Street providing two parking spaces in tandem (access between 17 & 23 Queen Street). It could be possible to develop the upper parts of the property, together with the rear parking and access, subject to the necessary consents, agreement with the tenant and neighbouring land owner who benefits from reciprocal rights of access over the rear land. TENURE The property is held freehold. TENANCY The property is entirely let to Savers Health and Beauty Limited on a reversionary five year lease from 6th September 2021, on full repairing and insuring terms at a passing rent of £60,800 per annum, having been re-based from £70,800 per annum. The tenant has been in occupation of this property since 2000, having taken the assignment of a 1986 lease and has renewed on five year leases since 2011. The tenant has the option to determine the lease on 6th September 2024, subject to six months’ prior written notice and a break penalty in the sum of £20,000. EPC The property has an EPC rating of D (100). The full reports are available on request. VAT The property is registered for VAT and so VAT will be payable on the purchase price. However, it is anticipated that the sale will be treated as the Transfer of a Going Concern (TOGC).

Location

marker
Location: 28 GREAT DARKGATE STREET, ABERYSTWYTH SY23 1DE

Aberystwyth (0.1 miles)

Borth (5.5 miles)

Aberdovey (9.1 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here