* INVESTMENT * Commercial/Residential Mixed * A four storey fully let mixed use building for sale in Swansea City Centre. Accommodation includes; Commercial element; ground floor and basement shop currently occupied by a printer namely T/A Pontaprint. To the first and second floor is a self-contained four bedroom HMO duplex, which can be accessed directly from the main pedestrian walkway. This also has the potential to be converted to a 5 bedroom HMO, subject to the necessary planning. The print shop is let for £12,000 per annum, Average rents for the HMO: 3 X £325pcm & 1 X £300pcm £12,750pa (10 month contract). Average total income per annum of £24,750. Gross Yield 9%. CTFCP
Ground Floor
Net internal area circa 60sqm
Retail unit comprising a small office room and staff room & W.C. Facilities. Leading to:
Basement
Net Internal Area Circa 54sqm.
Basement separated into three store rooms with kitchen facilities and access to enclosed rear courtyard.
4 Bed HMO
Net internal area circa 125sqm.
First Floor
Lounge (19' 4" x 14' 5" or 5.90m x 4.40m)
Two double glazed window to front, two radiators.
Kitchen (9' 10" x 9' 6" or 3.00m x 2.90m)
Fitted and wall and base units, Integrated electric oven, extractor fan, stainless steel sink, tile splash back, space for fridge freezer, plumbing for washing machine, vinyl floor, double glazed window to rear.
Bedroom (13' 9" x 12' 2" or 4.20m x 3.70m)
Double glazed window to rear, radiator.
Second Floor.
Hall (15' 1" x 6' 11" or 4.60m x 2.10m)
Radiator.
Bedroom (14' 1" x 10' 10" or 4.30m x 3.30m)
Double glazed window to rear, radiator.
Bedroom (14' 5" x 9' 10" or 4.40m x 3.00m)
Double glazed window to front, radiator.
Bedroom (10' 10" x 8' 2" or 3.30m x 2.50m)
Double glazed window to front, radiator.
Bathroom (11' 2" x 9' 2" or 3.40m x 2.80m)
Walk in shower enclosure, panelled bath, low level WC, pedestal wash hand basin, tile effect flooring, tile splash back, LED spots, frosted double glazed window to rear.
Information
As stated on the VOA website the Rateable Value for the subject premises is as follows:
Rateable Value (2017): £8,300
From April 2018 the Welsh Government set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2021-22 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 £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.
We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .
The 4 bedroom HMO is rated under Council Tax Band C.
Terms & Tenure - The premises is available Freehold subject to the lease details enclosed herein.
Tenancy Schedule - Retail Unit (Ground Floor and Basement):
Let initially for a term of 7 years from 25th September 2014 at a current rent passing of £10,200 per annum (exclusive). We have therefore been informed that the Tenant is currently holding over, which is currently held on a periodic tenancy.
4 Bedroom HMO (First and Second Floors):
Currently let on standard individual Assured Shorthold Tenancy (AST) agreements. The current rent passing is £1,169 per calendar month. Please be advised that a new effective group tenancy has been agreed, with effect from 1st July 2022 for a term of 12 months, based on an agreed rent of £13,332 per annum. This this equates to £303 per calendar month per room, with half rent being pain in July and August.
