Uplands Crescent, Uplands, Swansea

Description

The subject property comprises a three-storey (plus basement), mid terraced commercial premises which is situated within the sough after area and suburb of Uplands, along of the edge of Swansea city centre, measuring approximately 213.79 sq.m (2,301.23 sq. ft.) in total

The subject property comprises a ground floor retail unit with additional basement store/ cellar, which is currently occupied for use as a licenced bar and restaurant. The main sales area arranged over the ground floor, which can be accessed directly off the main pedestrian walkway to the front via an entrance vestibule, benefits from a gross sales depth of approx. 18.47m, which has been subdivided in part to accommodate a fully fitted bar area. The main bar also accommodates various seating for approximately 46 covers in total. Ancillary accommodation in the form of a cellar store is also available over the basement, which can be accessed via an internal stairwell off the main sales area.

An enclosed roof terrace and beer garden (including customer w.c. facilities) are also available to the rear of the main sales area, which provides additional seating for a further 28 covers, which also includes a small smoking shelter over the lower ground floor. A small steel container has also been constructed over the enclosed beer garden, which appears to have recently been refurbished to accommodate a private function room, incorporating booth seating for approximately 12 covers. Please be advised that this section of the building has the potential to be subdivided further, which can be let separately.

The remaining accommodation arranged over the upper floors benefits from separate restaurant facilities, comprising the main restaurant area and catering kitchen at first floor level, while the second floor comprises an additional function room, staff room and customer w.c. facilities.

We further advise that the entire premises is currently let to two separate occupiers, producing a total rent passing of £30,000 per annum with approximately 14 months remaining.

Location

The property is situated fronting Uplands Crescent in Swansea City Centre.

The property is situated in a prominent position in the busy local shopping area of the Uplands, which forms part of a parade of shops and established businesses serving the local residents and passing trade.

The Uplands is a secondary retail area approximately 1 mile from Swansea City Centre with a large residential population surrounding. Uplands is also considered to be a popular sought after residential and commercial location.

Accommodation Comprises

The subject premises affords the following approximate dimensions and areas:

GROUND FLOOR

Net Internal Area; 70.75 sq.m (761.55 sq. ft.)

Sales Area: 70.75 sq.m (761.55 sq. ft.)
with fully fitted bar and various seating for approximately 46 covers.

Shop Depth: 18.47m (60’7”)

Internal Width: 4.52m (14’10”)

Sales (ITZA): 42.51 sq.m (457.57 sq. ft.)

Roof Terrace/ Beer Garden
accessed to the rear of the main sales area and arranged over a split level, with door to

Customer W.C. Facilities

LOWER GROUND FLOOR (Bar Area)

Net internal Area; 25.45 sq.m (274.02 sq. ft.)

Function Room: 4.60m x 5.76m
with various booth seating for approximately 12 covers, door to.

Smoking Shelter
with access to rear lane.

BASEMENT (Bar Area)

Net Internal area: 34.01 sq.m (366.08 sq. ft.)

Storage: 23.23 sq.m (250.04 sq. ft.)
comprising various storage areas.

Beer Cellar: 10.78 sq.m (116.03 sq. ft.)
fully fitted with an integrated cooling unit

W.C. Facilities

FIRST FLOOR

Net Internal Area: 63.29 sq.m (681.25 sq. ft.)

Restaurant: 35.80 sq.m (385.35 sq. ft.)
comprising various free standing seating for approximately 35 covers.

Commercial Kitchen: 26.37 sq.m (283.84 sq. ft.)
fully fitted and equipped.

SECOND FLOOR

Net internal Area: 33.45 sq.m (360.10 sq. ft.)

Function Room: 20.81 sq.m (223.99 sq. ft.)

Staff Room: 12.64 sq.m (136.05 sq. ft.)

Customer W.C. Facilities
comprising ladies and gents w.c. facilities and shower facilities.

Rates

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

Rateable Value (2023): £19,000

Please be advised that the Rateable Value disclosed above is for the entire premises. We therefore advise that the Rateable Value in the subject premises will need to be reassessed. The Valuation Summary can be seen as follows.

Description

GF Bar/ Restaurant: 67.50 @ £155.00 = £10,463
Basement Store: 44.70 @ £38.75 = £1,732
FF Kitchen: 19.84 @ £75.95 = £1,507
FF Restaurant: 30.52 @ £108.50 = £3,311
SF Staff Room: 12.21 @ £27.13 = £331
SF Restaurant: 21.00 @ £54.25 = £1,139
SF Public Toilets: 22.54 @ £27.13 = £612

Total: 218.30 = £19,095
Rateable Value (rounded down) = £19,000

From April 2018 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.

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 & Tenure

The premises is available Freehold, which is subject to the following Leases.

Ground Floor and Basement (including rear Beer Garden)

Let to a private individual (trading as Eras) for a term of 2 years with effect from 1st May 2024 at a current rent passing of £15,000 per annum (exclusive).

First and Second Floors

Let to a private individual (trading as Kokodoo) for a term of 3 years with effect from 1st February 2023 at a current rent passing of £15,000 per annum (exclusive).

Viewing

By appointment with Sole Agents:

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