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Market Chambers - The Parade, Neath SA11 1PU

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Market Chambers - The Parade, Neath SA11 1PU

Summary:

  • FOR SALE
  • Long leasehold mixed use investment
  • 125 year lease from 13th July 2007
  • Joint Agents: RJCS and Strettons
  • PRICE : Offers in excess of £750,000 plus VAT

Location

Located at the junction of The Parade and Maes-yr-Haf Road within the main retail area of Neath.  Neath mainline station and bus station are directly to the south-west of the building.  Local occupiers include NatWest, Barclays Bank, New Look, Next and Marks & Spencer and Specsavers.

Neath is approximately 10 miles east of Swansea, with a population of approximately 46,000.  It has excellent road communications via Junctions 42 and 43 of the M4, and Cardiff is about 40 miles south east.  Direct rail services to London Paddington take approximately three hours.

Description

The property consists of four A3 retailunits on teh ground floor and 14,278 sqft of moddern office accommodation arranged over the first, second and third floors.  The third floor office is in shell condition leaving optins for further development.  There is a small service yard to the rear of the building.

In 2010 a substantial refurbishment programme was completed which included new cladding to the exterior of the building, double glazing, new roof and insulation, new shopfronts to the four retail units, WC accommodation on ground, first and second floors, disabled WC accommodation,shower facility on ground floor, first and second floor kitchens, CAT2 and emergency lighting, decoration and heavy duty carpet tiles throughout.

Tenure

The property is held on a 125 year lease from 13th July 2007.  The ground rent payable is £3,625 p.a.

Amenities

Air conditioning, fully accessible raised flooring, DDA compliant, passenger lift to all floors, large reception area, VDU compatible lighting, BREEAM rating "Very Good", shower facilit and CCTV, fire and burglar alarm systems.

Accommodation

Please see enclosed details.

Price

We are instructed to seek offers in excess of £750,000 for the long leasehold interest, subject to contract and exclusive of VAT.

A purchase at this levels reflects a low capital value of £39.60 per square foot.  The property is held within an SPV and the sale of the company would be considered.

EPC

Available on request.

VAT

The property is elected for VAT.

Viewing

By way of appointment via the Joint Agents:-

Nicholas Founds - Rowland Jones Chartered Surveyors - Tel: 01792 479845

E-mail: nicholas@rowlandjones.co.uk

Nick Duck - Strettons - Tel: 020 7907 7422

E-mail: nick.duck@strettons.co.uk

Subject to Contract