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The property has been postponed from auction.
ONLINE AUCTION from 3rd OCTOBER-5th OCTOBER
Currently occupied by Lextan, one of Wales’s largest tanning salon brands. The property is achieving £15,000 per annum, and holds a 15 year lease with no break clause. Based on our guide price, this is a 12.5% yield.
The property briefly comprises of a ground floor retail unit with a trading area, seven tanning rooms, staff kitchen and wc. There is currently no access to the top floor as the stairs have been removed.
The property is positioned within Tonypandy’s main trading area with other large retail occupiers including Santander, Boots, Greggs, New Look, Iceland and Barclays. Tonypandy benefits from an excellent range of amenities and shopping facilities, with its mainline train station (Arriva Trains Wales) and excellent road links that include the A470 and M4.
The property benefits from electric and water (not tested).
|Floor||Area Sq Ft||Area Sq M|
|Lower Ground Floor/Basement||Unable to access|
|Tenant||Tenancy Type||Start Date / End Date||Tenancy Term||Rental Amount|
|Lextan||To be written on completion||Date of completion – 15 years||15 years||£15,000 pa|
Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £1,200) including VAT unless otherwise stated.
Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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