Lot 20 - 7 Union Street, Swansea, SA1 3EE

  • Unconditional Online Auction Sale
  • Guide Price* : £260,000+
  • Bedrooms: 0

Addendum

Guide price has been reduced

LOT 20 - Tenanted Commercial Property

Description

ONLINE AUCTION from 21st JUNE-23rd JUNE

Located in a prime retail area in Swansea City Centre, this property benefits from plenty of footfall.

The property is currently tenanted by Swansea Trade limited – trading as Cash at Max, and is achieving an annual income of £35,000 pa – A 12.5% yield based on the guide price. The tenants have been residing in the property for approximately six years, and are currently on a fully repairing and insuring FRI lease with no break clauses.

The property is briefly comprised of a four storey building, with a trading area and vault on the ground floor, and ancillary accommodation above.

Accommodation

Ground Floor: Trading area, office, vault
Basement: Storage area
First Floor: Ancillary accommodation, male and female wc, kitchenette
Second Floor: 2 ancillary rooms

Tenancy Details

Floor Description Area Sq Ft Area Sq M Rental
Tenant Lease Type Start Date End Date Rental
Swansea Trade Limited – trading as Cash at Max FRI Lease 2016 Jan 26 £35,000 pa

Tenure

Advised Freehold - to be verified by solicitor

Auction Fees And Additional Costs

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 £975) 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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