UNDER OFFER - 2 Picton Arcade, Swansea
For Sale £ 110,000 For Sale
The premises occupies a prominent trading position within the popular Picton Arcade between Oxford Street and The Kingsway within Swansea City Centre, and amongst both local, and national retailers. Picton Arcade is approximately 2 minutes from the Quadrant Shopping Centre.
This accommodation comprises an A1 Retail unit that is split over the ground, and first floors. The ground floor is an open plan showroom, and the first floor is ideally suited as ancillary storage with WC facilities.
The property benefits from Electric, and Water utilities. Please note that during the course of our inspection, none of these utilities were tested.
The premises is currently Let to Deluxe Vapours Ltd with a registration number of 10278206. The lease commenced in 2016 and is for a term of 5 Years producing a gross rental income of £12,000 per annum exclusive of VAT. The Tenant retains the right to determine this lease on the anniversary of year 2. There are personal guarantors under this lease.
A copy of this lease may be viewed at Dawsons.
Our clients Long Leasehold interest is available to purchase for £110,000 (One Hundred and Ten Thousand Pounds).
The remaining term on the lease is 118 years and a Service Charge of £2,000 per annum is payable to Picton Arcade for the upkeep of the Arcade.
The property has a rateable value of £11,500. This unit qualifies for rates relief. Interested parties should contact the Local Authority for more information.
Please contact Dawsons Commercial on the contact details below to make an appointment:
01792 478 907
01792 478 908