Retail premises to let in Royal Arcade, Cardiff CF10

Location
The retail unit is located within a prime trading pitch within the Royal Arcade, which forms part of the Historic Morgan Quarter in Cardiff City Centre.
The Morgan Quarter is located within the heart of Cardiff City Centre and links The Hayes/St David’s Shopping Centre with the newly developed Central Station & Principality Stadium. Situated within prime position and located adjacent to Whocult, Lucy & Yak, Jojo Maman Bebe and Uncommon ground roastery. Also located within the immediate vicinity include established occupiers Wally’s, Fresh, Ganesha and Bird & Blend.

Accommodation / Description
The retail unit is currently occupied by a Vintage Clothing operator and is generally presented in very good condition. There may be an opportunity for a new ingoing tenant to acquire some fixtures and fittings from the existing occupier, subject to negotiation. There is some additional storage beyond the front retail area in addition to a WC for staff. The unit also benefits from an Air Conditioning system.

The property provides the following approximate floor areas: -

Ground Floor Retail Area: C.753 sqft c. 70 sq.m

Planning
We understand that the retail unit benefits from planning use within Class A1 of the Schedule to the Town and Country Planning (Use Classes) Order 1987.

Lease / Terms
The unit is held on an existing lease expiring 1st November 2027 at a
passing rent of £35,000 pax.
There is an annual service charge payable which is currently c. £5,680 per annum and an annual insurance apportionment currently equating to c. £512 per annum. Quoted figures exclude VAT.

The unit is available either via Lease assignment, sub-lease or the landlord will consider agreeing a new lease directly with a suitable proposed tenant, subject to agreeing suitable terms and reviewing covenant & accounts etc. To help speed up the decision process, we would advise all interested parties to prepare as much background information as possible in relation to their respective businesses, which we can then provide to the landlords representatives to review upon any offers being submitted for consideration.

Legal Costs
Each party is to be responsible for their own legal and professional costs incurred in this transaction. The proposed sub-tenant/assignee may also be required to contribute towards the landlords legal/professional costs.

EPC

46-b (valid to 3 March 2029)

Rateable Value
£23,000 (April 2023)
ubr: 0.535 (2022/2023)
Rates Payable: C. £12,305 pa
Interested parties should check with Cardiff Council as to whether they are eligible for any business rates relief.

Viewing & Further Information
Please note that that is a confidential leasing opportunity with staff unaware of the unit availability. Therefore, all enquiries must strictly come through DTR Surveyors and no direct approach to be made to shop staff under any circumstances.

Please contact sole marketing agents, DTR Surveyors: -
Contact: David Rowlands
Email:
Mobile: June 2024