Office for sale in Llys Felin Newydd, Swansea SA7

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 premises comprises of a two storey building, with facing brick elevations, beneath a concrete tiled roof. Independent access are provided to the ground floor vets and the first floor “ The Hub “ office accommodation. The premises has a 48 no car parking spaces located to the front and rear of the property.

Accommodation

Ground floor vets: 328.60 sq m (3,537 sq ft)
First Floor The Hub: 355.08 sq m ( 3,822 sq ft )

Total: 683.68 sq m (7,359 sq ft)

The suite sizes of The Hub office development are shown in the attached schedule of accommodation.

Service charge & building insurance

The ground floor tenant contributes to a service charge to maintain the external part of the property and the external communal areas of Copper Court and a contribution to the maintenance of New Mill Court access road. The first floor tenants licence fee also contributes to this and the running costs of the internal area of The Hub. The tenants also contribute to the building insurance premium, with the ground floor tenant.

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 Vets: £22,500 ff Suite 1: £2,175
ff Suite 2 : £1,525 ff Suite 3: £ 2,500
ff Suite 4: £1,575 ff Suite 5: £2,050
ff Suite 6: £2,425 ff Suite 7: £1,700
ff Suite 8: £2,700 ff Suite 9: £1,975
ff Suite 10: £11,500

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 December 1988, on a peppercorn ground rent.
Copy documentation available on request.

Tenancies

See Tenancy Schedule below.

EPC

To be provided

Proposal

Seeking offers in the region of £775,000 (Seven Hundred and Seventy-Five Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a capital value of £105 per sq. Ft, and the following yield profile:

Initial Yield: 6.24%, rising to 10.17% when fully let
Assuming standard purchaser’s costs at 5%

Further information

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

Jason thorne
will hunt

June 2024