Acquired
Aberystwyth – Charity Shop
33/35 Great Darkgate Street, Aberystwyth, Dyfed SY23 1DEFreehold Retail Investment
Tenure
Freehold
Lease Term
15 Years
Years Left on Lease
11y 11m
Area
5,671 SQ FT
VAT Applicable
Yes
Sector
Investment Consideration
- Let to Sense on a new 15 year lease
- 5 yearly RPI linked Rent Reviews
- Comprises ground floor shop with ancillary accommodation above
- VAT is applicable to this property
- Located within short walk to Aberystwyth train station
- Nearby occupiers include Greggs, Subway, Holland & Barrett, Poundland, New Look and Waterstones, amongst others.
Key Features
Tenure
Freehold
VAT
VAT is Applicable
Property Description
The property comprises ground floor charity shop with ancillary accommodation at basement, first, second and third floor.
The property provides the following accommodation and dimensions:
Ground Floor: Shop 194.70 sq m (2,096 sq ft)
First Floor: Ancillary 120.70 sq m (1,299 sq ft)
Second Floor: Ancillary 92.60 sq m (997 sq ft)
Third Floor: Ancillary 37.30 sq m (401 sq ft)
Basement: Ancillary 81.60 sq m (878 sq ft)
Total area size: 526.90 sq m (5,671 sq ft)
The property provides the following accommodation and dimensions:
Ground Floor: Shop 194.70 sq m (2,096 sq ft)
First Floor: Ancillary 120.70 sq m (1,299 sq ft)
Second Floor: Ancillary 92.60 sq m (997 sq ft)
Third Floor: Ancillary 37.30 sq m (401 sq ft)
Basement: Ancillary 81.60 sq m (878 sq ft)
Total area size: 526.90 sq m (5,671 sq ft)
Tenancy Description
The property is at present let to Sense, The National Deafblind and Rubella Association* for a term of 15 years from 22nd November 2021 at a current rent of £43,000 per annum and the lease contains full repairing and insuring covenants. Rent review linked to RPI every 5th Year (subject to a 1% collar and 10% cap in each review). Tenant option to determine every 5th Year, subject to a penalty of £23,750 if exercised. There is a 3-month rent free period from completion of the lease. The Vendor will top-up the rent such that the purchaser effectively receives £43,000 p.a. from completion
Tenant Background:
Website: www.sense.org.uk. For the year end 31st March 2020 Sense, The National Deafblind and Rubella Association reported a pre-tax loss of £3,265,000 shareholders funds and a net worth of £31,663,000 (Experian: 28.06.2021)
Tenant Background:
Website: www.sense.org.uk. For the year end 31st March 2020 Sense, The National Deafblind and Rubella Association reported a pre-tax loss of £3,265,000 shareholders funds and a net worth of £31,663,000 (Experian: 28.06.2021)
Tenancies & Accommodation
Location Description
Aberystwyth is a university town and community in Ceredigion, Wales. The distance to Swansea is 55 miles (89 km); to Shrewsbury 60 miles (97 km); to Wrexham 63 miles (101 km); to Cardiff 76 miles (122 km); and to London 180 miles (290 km). The A44 and A487 meet with much traffic between North Wales and South West Wales passing through the town. The A4120 links the A44 and A487 between Llanbadarn Fawr and Penparcau, allowing through traffic to bypass the town centre. The property is located within short walk to Aberystwyth train station. Nearby occupiers include Greggs, Subway, Holland & Barrett, Poundland, New Look and Waterstones, amongst others.
