Commercial Property for sale

Herbert Street, Pontardawe, Swansea SA8


OIRO
£165,000
1,911 ft²

Features

  • Freehold
  • Ideally for both investor and owner occupier
  • Partly let producing £9,480 pa
  • Prime retail area within pontardawe town centre
  • Prominent three storey mixed use property
  • Two retail units with one bedroom flat

Description

The subject property comprises an extended end terraced, three-storey, mixed use premises which is located along a prominent main road position within Pontardawe town centre.

Internally, the premises accommodates two self-contained ground floor retail units, comprising a small lock up shop/ retail unit which is let and occupied for use as a specialist fabric shop (trading as Fancy That). The remaining accommodation arranged over the ground floor accommodates a much larger retail unit, which is currently occupied for use as a hair salon. The ground floor retail unit is also supported by ancillary accommodation to the rear, to include additional stylist stations, a back wash area, staff kitchen and w.c. Facilities, while additional storage facilities are also available within the basement.

The first floor, which can be accessed off the rear courtyard, via an external steel stairwell accommodates a self-contained residential apartment comprising one bedroom, lounge, kitchen and shower room.

The subject premises also benefits from designated car parking facilities in the form of an adjoining single garage, which can be accessed off the driveway and footpath over the right hand side elevation, via an up-and-over garage door.

We further advise that the subject premises can be acquired as an investment or alternatively for an owner occupier on the basis that the hair salon, trading as Hair Design, will be offered with vacant possession upon completion of this proposed transaction.

Description

The subject property comprises an extended end terraced, three-storey, mixed use premises which is located along a prominent main road position within Pontardawe town centre.

Internally, the premises accommodates two self-contained ground floor retail units, comprising a small lock up shop/ retail unit which is let and occupied for use as a specialist fabric shop (trading as Fancy That). The remaining accommodation arranged over the ground floor accommodates a much larger retail unit, which is currently occupied for use as a hair salon. The ground floor retail unit is also supported by ancillary accommodation to the rear, to include additional stylist stations, a back wash area, staff kitchen and w.c. Facilities, while additional storage facilities are also available within the basement.

The first floor, which can be accessed off the rear courtyard, via an external steel stairwell accommodates a self-contained residential apartment comprising one bedroom, lounge, kitchen and shower room.

The subject premises also benefits from designated car parking facilities in the form of an adjoining single garage, which can be accessed off the driveway and footpath over the right hand side elevation, via an up-and-over garage door.

We further advise that the subject premises can be acquired as an investment or alternatively for an owner occupier on the basis that the hair salon, trading as Hair Design, will be offered with vacant possession upon completion of this proposed transaction.

Location

The subject premises is located along a prominent main road position within the immediate proximity of the main intersection fronting Herbert Street with the primary retail area of Pontardawe town centre.

Pontardawe is a town in the Swansea Valley. The community of Pontardawe, with a population of some 6,800, comprises the electoral wards of Pontardawe and Trebanos. The immediate vicinity also provides ease of access to the main A474 and the A4067, which is one of the main distribution roads linking the M4 Motorway, Junction 45 (approximately 4 miles to the south) with Swansea City Centre.

Established occupiers within close proximity include The Cooperative Funeral Care, St James Medical Centre and Ladbrokes.

Accommodation

This subject premises affords the following approximate dimensions and areas:

Unit No. 12
Ground floor


Net Internal Area: 46.04 sq.m (495.59 sq. Ft.)

Sales Area: 27.89 sq.m (300.25 sq. Ft.)
accessed off the main pedestrian walkway to the front via a standard sales display entrance.

Shop Depth: 7.22m (23'8")
Internal Width: 4.22m (13'10)

Rear Sales: 17.48 sq.m (188.15 sq. Ft.)
currently fitted to accommodate a backwash area for the salon and various base units for staff kitchen.

W.C. Facilities
Basement


Gross Internal Area: 61.82 sq.m (655.43 sq. Ft.)

Store Area: 2.24m x 7.29m
with stairs to ground floor sales (hair salon).

Store Room: 5.45m x 3.32m
with door to rear courtyard.

Former Coal Store: 3.76m x 7.29m

Unit 12b
Ground floor


Net Internal Area: 16.67 sq.m (179.43 sq. Ft.)

Sales Area: 16.67 sq.m (179.43 sq. Ft.)

Shop Depth: 5.46m (17'11")

Net Frontage: 3.21m (10'6")

Residential Apartment
First floor


Gross Internal Area: 53.05 sq.m (571.11 sq. Ft.)

Landing
with door to rear external stairwell and doors to.

Shower Room
fitted with a three piece suite comprising shower enclosure with electric shower unit, w.c. And wash hand basin, housing wall mounted gas fired boiler.

Bedroom (front): 3.62m x 3.43m

Lounge (front): 3.62m x 3.43m

Kitchen: 3.66m x 3.03m
fitted with a range of wall and base units incorporating sink drainer, electric cooker point.

Rates

As stated on the voa website the Rateable Value for the subject premises is as follows:

Rateable Value (2017): £5,300

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 further advise that the self-contained residential apartment arranged over the upper floor has a Council Tax Band of A.

We advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit .

Vat

All figures quoted are exclusive of VAT. Our client reserves the right to levy VAT on this transaction (if applicable).

Terms & Tenure

The subject premises is available Freehold.

We further advise that the ground floor retail unit, known as Unit 12b (T/A Fancy That) was initially let for a term of 12 months and currently holding over, producing a rent passing of £425 per calendar month (£5,100 per annum), which is also inclusive of electric.

The self-contained residential apartment arranged over the upper floor was initially held on an Assured Shorthold Tenancy (AST) agreement, which is now held on an implied periodic tenancy, producing a rent passing of £365 per calendar month (£4,380 per annum), which is also inclusive of water and gas.

We therefore advise that the current passing rent for the subject premises is £9,480 per annum, based on an occupancy rate of approximately 60%.

Viewing

By appointment with Sole Agents:

Astleys Chartered Surveyors
Tel: Email:

Categories

Commercial Properties
Call
Property reference
CP_68C8C3D667_61