Castle Street, Neath

Description

The subject premises comprises a substantial size, two-storey Grade II Listed Building and former community hall, measuring approximately 450.99 sq.m (4,854.45 sq. ft.) in total, which is situated along a prominent main road position within Neath town centre.

At present, the subject premises is currently presented in a shell condition, with proposed reinstatement works currently ongoing. Since the subject premises was previously acquired, we note that the building has been altered to comprise an open plan layout, which also benefits from planning permission and listed building consent for the conversion to 3 no. self-contained commercial units.

Based on the information contained within the planning permission decision notice, the subject premises has been granted planning permission for the change of use to form a restaurant (A3 Use Class) and business premises (B1 Use Class) including associated internal and external alterations and the provision of a new external terrace/ fire escape (Ref: P2023/0425).

The subject premises accommodates the majority of the site, with the exception of an external walkway along the side elevation and a small enclosed courtyard area to the northeast corner, which has potential for an external seating area (subject to obtaining the necessary consents).

Location

The property is situated directly off Castle Street, within Neath town centre.

Neath affords a population of approximately 45,500, which is a busy retailing centre within South Wales. Neath is situated approximately 35 miles west of Cardiff and 10 miles north-east of Swansea. The M4 Motorway (J43) lies 3 miles to the south via the A474 and A465 dual carriageway.

The subject premises also affords ease of access to the prime retail areas of Wind Street and Green Street, which are approximately 150 metres away in a southerly direction, while the town's main supermarket (anchored by Morrisons) and the Angel Street car park is located immediately to the west. The subject premises also benefits from immediate views of Neath Castle, which is located adjacent to the north.

Accommodation Comprises

We also note the following approximate dimensions and areas, based on measurements recently undertaken during the course of our brief inspection.

GROUND FLOOR

Gross Internal Area: 273.99 sq.m (2,949.22 sq. ft.)

Entrance Lobby/ Social Room: 57.07 sq.m (614.30 sq. ft.)
12.30m x 4.64m
with external door to front, stairs to first floor, access to.

Stores (Front): 24.60 sq.m (264.79 sq. ft.)
5.28m x 4.66m
with external door to front, stairs to first floor, access to.

Kitchen/ Prep Areas: 34.32 sq.m (369.42 sq. ft.)
4.91m (max) x 7.09m
subdivided to comprise two former catering rooms.

Main Hall (inc. w.c. facilities): 124.17 sq.m: (1,336.56 sq. ft.)
12.71m x 9.77m
with main external doors to side elevation, access to.

Fire Corridor/ Stores: 23.01 sq.m (247.67 sq. ft.)
11.86m x 1.94m
with external door to side elevation.

Stores (Rear) 10.84 sq.m (116.68 sq. ft.)
5.14m x 2.11m
subdivided to comprise two store areas.

FIRST FLOOR

Gross Internal Area: 177.00 sq.m (1,905.22 sq. ft.)

Former Bowling Alley/ Hall: 81.38 sq.m (875.97 sq. ft.)
17.73m x 4.59m
with set of stairs to ground floor along each elevation, access to.

Former W.C. Facilities (Shell Condition): 10.79 sq.m (116.14 sq. ft.)
2.66m x 4.06m

Ceremony Room/ Mezzanine: 84.83 sq.m (913.11 sq. ft.)
8.63m x 9.83m

Rates

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

Rateable Value (2023): £7,600
(Identified as Loyal Order of the Moose)

The Welsh Government set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2024-25 the multiplier will be 0.562.

Rates relief for small business in Wales 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 also advise that the Rateable Value in the subject premises will need to be reassessed upon practical completion of the proposed works based on the approved layout. We therefore advise that all enquiries should be made with the Local Authority Rates Department to verify this information. For further information visit www.voa.gov.uk.

VAT

We have been advised that VAT is not applicable to this transaction.

Terms & Tenure

The subject premises is available Freehold with vacant possession.

Planning

Planning Permission was previously granted on 3rd August 2023, for the change of use to form a restaurant (A3 use class) and business premises (B1 use class) including associated internal and external alterations to the listed building and the provision of a new external terrace/fire escape (Ref: P2023/0425).

A copy of the associated documents are also available upon request.

Viewing

By appointment with Sole Agents:

Astleys Chartered Surveyors
Tel: 01792 479 850
Email: commercial@astleys.net