St. Helens Road, Swansea

Description

The subject premises comprises a substantial size four storey mid terraced, Grade II Listed, multi-let office block of approximately 462.57 sq.m (4,979.10 sq. ft.), situated within Swansea city centre.

The premises accommodates a total of 27 no. cellular offices suites ranging from 7.05 sq.m - 27.49 sq.m (75.88 sq. ft. - 295.50 sq. ft.), which are interlinked over each floor and supported by a variety of communal facilities including an entrance reception with ladies, gents and disabled w.c. facilities, a staff kitchen and meeting room.

The office block also benefits from on-site security with 24 hour access, additional shower facilities (within the ground floor toilet block), bike storage facilities to the rear and various photovoltaic panels over the main roof.

We advise that the premises is currently occupied and let in part by a number of individual tenants (approximately 35% occupied), held on minimum 6 month occupational contracts on an all-inclusive basis, at a current rent passing of £5,310 per calendar month (£63,720 per annum), with a potential rental growth of in excess of £100,000 per annum (inclusive) based on 80% occupancy.

Externally, the subject premises benefits from an open car parking area to the front, providing designated parking for approximately 6-8 vehicles. Designated parking facilities are also available to the rear, within an enclosed gated compound, providing additional car parking for a further 12-13 vehicles.

Location

The property is situated fronting St. Helen’s Road which is a short distance away from the main shopping streets of Swansea City Centre.

Whilst St. Helen’s Road is a secondary trading location, St. Helen’s Road is popular with restaurants, hot food take-aways, offices and assortment of small shops including barbers, convenience stores, etc.

The subject property is well placed within the City Centre, close to the prime area and benefits from a good level of passing trade.

Swansea has a population of some 240,000 and has a popular, expanding University. There is also a mainline railway station close by. Swansea City Centre has seen a large amount of redevelopment in recent years to provide additional student accommodation, which in turn has increased activity within the City Centre.

In addition we advise that the redevelopment of the Kingsway Infrastructure Project, located less than half a mile away in a north-easterly direction, is currently underway which is aimed at kick-starting the development of a new digital district.

Accommodation Comprises

The subject premises affords the following approximate dimensions and areas:

GROUND FLOOR

Net Internal Area/ IPMS 3 (Office): 145.48 sq.m (1,566.04 sq. ft.)

Entrance Foyer/ Reception: 4.01m x 8.44m
with doors to.

Gents and Disabled W.C. Facilities
comprising 3 no. toilet cubicles, shower enclosure and separate disabled w.c. facilities

Communal Corridors
with 2 no. internal stairwells to upper floors and doors to.

Storage Facilities
comprising 2 no. storage cupboards

Ladies W.C. Facilities
comprising 3 no. toilet cubicles and additional shower facilities.

Office 1: 3.06m x 3.68m

Office 2: 3.04m x 3.61m

Office 3 4.65m x 2.25m

Office 4: 4.20m x 4.24m
with bay window to front.

Office 5: 5.28m x 3.73m
with bay window to rear.

Office 6: 1.45m x 4.19m

Office 7: 5.42m x 3.95m

Office 8: 3.33m x 4.56m

FIRST FLOOR

Net Internal Area/ IPMS 3 (Office): 185.26 sq.m (1,994.13 sq. ft.)

Landing Areas
with 2 no. internal stairwells to each floor, doors to.

Meeting Room: 3.91m x 3.47m

Office 9: 3.76m x 4.25m
with bay window to front.

Office 10: 3.69m x 3.26m

Office 10a: 2.02m x 4.24m

W.C. Facilities
with w.c. and wash hand basin

Staff Kitchen: 3.30m x 3.15m

Office 11: 3.95m x 3.28m

Office 12: 3.95m x 2.35m

Office 13: 2.23m x 3.97m
with bay window to rear.

Office 14: 2.56m x 3.30m

Office 15: 3.64m x 3.35m

Office 16: 3.35m x 3.82m

Office 17: 4.51m x 3.66m

Office 19: 5.42m x 3.95m

Office 20: 3.33m x 4.56m

SECOND FLOOR

Net Internal Area/ IPMS 3 (Office): 76.85 sq.m (827.21 sq. ft.)

Landing Areas
with 2 no. internal stairwells to each floor, doors to.

Office 21: 5.42m x 3.95m

Office 22: 3.33m x 4.56m

Office 23: 3.75m x 4.73m (L-Shaped)

Office 24: 3.58m x 4.22m

Office 25: 2.07m x 4.23m

THIRD FLOOR

Net Internal Area/ IPMS 3 (Office): 54.98 sq.m (591.80 sq. ft.)

Landing Areas
with 2 no. internal stairwells to each floor, doors to.

Office 26: 5.95m x 4.76m
with bay windows to front and rear.

Office 27: 5.95m x 4.76m
with bay windows to front and rear.

Rates

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

Office 1 (Ground) - £1,900
Office 2 (Ground) - £2,100
Office 3 (Ground) - £1,550
Office 4 (Ground) - £1,100
Office 5 (Ground) - £1,175
Office 6 (Ground) - £1,200

Office 7 (First) - £2,900
Office 8 (First) - £1,375
Office 9 (First) - £2,025
Office 10 (First) - £1,250
Office 11 (First) - £1,625
Office 12 (First) - £1,150
Office 13 (First) - £1,325
Office 14 (First) - £1,100
Office 15 (First) - £1,275
Office 16 (First) - £1,300
Office 17 (First) - £1,550

Office 18 (Second) - £2,300
Office 19 (Second) - £1,600
Office 20 (Second) - £1,025

Office 21 (Third) - £1,650
Office 22 (Third) - £1,650

From April 2018 the Welsh Government set the multiplier according to the Consumer Price Index (CPI) and for the financial year 2023-24 the multiplier will be 0.535.

Rates relief for small businesses in Wales will apply up to 31st March 2024. Rates relief for small business with a rateable value up to £6,000 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 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

Please be advised that all figures quoted are exclusive of VAT (if applicable).

Terms and Tenure

The subject premises is available Freehold subject to the following tenancies:

Room 1 – Let on an ad-hoc basis at a rate of £30 per day.

Room 4 - Let to a private individual (trading as an independent solicitor practice) at an initial term of 6 months from September 2017 at a current rent passing of £600 pcm (inclusive).

Room 5 - Let to Apex Hearing at an initial term of 6 months from October 2021 at a current rent passing of £450 pcm (inclusive).

Room 7 - Let to Assurance Accountancy at current initial term of 6 months from June 2013 at a current rent passing of £700 pcm (inclusive).

Room 8 - Let to Accomplish at an initial term of 6 months from January 2023 at a current rent passing of £500 pcm (inclusive).

Room 9 - Let to a private individual (trading as an independent counsellor) at a current rent passing of £440 pcm (inclusive).

Room 10 - Let to One 2 One Massage at a current rent passing of £500 pcm (inclusive).

Room 10a - Let to One 2 One Massage at a current rent passing of £200 pcm (inclusive).

Room 11 - Let to a private individual at a current rent passing of £450 pcm (inclusive).

Room 12 - Let to Allied Solutions at an initial term of 6 months from August 2007 at a current rent passing of £400 pcm (inclusive).

Room 13 - Let to a private individual (trading as an independent counsellor) at an initial term of 6 months from November 2021 at a current rent passing of £450 pcm (inclusive).

Room 16 - Let to a private individual (trading as an independent surveyor) at a current rent passing of £420 pcm (inclusive).

We therefore advise that the estimated gross rent passing is approximately £5,310 per calendar month (£63,720 per annum).

Viewing

By appointment with Sole Agents:

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