Acquired
Colwyn Bay – Shop & 2 Flats
19 Conway Road, Colwyn Bay, Clwyd LL29 7AAFreehold Retail & Residential Investment
Tenure
Freehold
Lease Term
3 Years
Years Left on Lease
Holding Over
Area
3,360 SQ FT
VAT Applicable
No
Sector
Investment Consideration
- VAT is NOT applicable to this property
- Comprises ground floor shop with 2 flats at first, second and third floor
- Nearby occupiers include Nationwide, HSBC, KFC, Subway and many others.
Key Features
Tenure
Freehold
VAT
VAT is not applicable.
Property Description
The property comprises ground floor shop, 1 x 1-bed flat at first floor and 1 x 2-bed maisonette at second/third floor, providing the following accommodation and dimensions:
Ground Floor Shop: 98.50 sq m (1,060 sq ft)
Open plan retail, kitchenette, WC
First Floor Flat: 71.00 sq m (765 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Second/Third Floor Flat: 143 sq m (1,539 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Ground Floor Shop: 98.50 sq m (1,060 sq ft)
Open plan retail, kitchenette, WC
First Floor Flat: 71.00 sq m (765 sq ft)
1 Bedroom, Kitchen, Living Room, Bathroom
Second/Third Floor Flat: 143 sq m (1,539 sq ft)
2 Bedrooms, Kitchen, Living Room, Bathroom
Tenancy Description
The retail shop is at present let to an Individual for a term of 3 years from 17th July 2020 at a current rent of £9,000 per annum and the lease contains full repairing and insuring covenants. Break clause in August 2021 NOT exercised. Deposit held of £1,500. Flat 1 is at present let on AST to Conwy County Borough Council for term of 3 Years from 1 April 2022 at a current rent of £4,200 p.a. Mutual option to determine at any time after the first 12 months with minimum 2 month notice. Flat 2 is at present let on AST to Conwy County Borough Council for term of 3 Years from 1 April 2022 at a current rent of £5,700 p.a. Mutual option to determine at any time after the first 12 months with minimum 2 month notice.
Tenancies & Accommodation
Location Description
Colwyn Bay is a popular resort town on the North Wales Coast and close to Llandudno in close proximity to the A55 (Holyhead and Chester Expressway) with links to the M56 motorway. The train station is close to the property and provides regular services to Chester, Manchester and Holyhead. Occupiers close by include Nationwide, HSBC, KFC, Subway and many others.