Leisure Investment

FOR SALE

Well configured unit in a prime location. CF10 1DX

106

ST MARY STREET

C A R D I F F

LOCATIONCardiff is the leading retailing and commercial centre for South Wales, and the capital city and administrative centre of Wales. The city, home to the popular Cardiff Castle and Principality Stadium, is located 42 miles east of Swansea, 45 miles west of Bristol and 155 miles west of London.

Cardiff benefits from an excellent transport infrastructure via rail on the Great Western Railway, with direct services to Bristol (35 mins), Birmingham (1 hr 57 mins) and London (2 hrs). The M4 provides direct access to London and the South West along with the M50 and M5 providing quick access to the Midlands and North of England. Cardiff International Airport is located 15 miles south west and offers direct flights to over 75 international destinations including Amsterdam, Paris and Zurich.

The city being renowned for hosting some of the world’s most prestigious sporting and cultural events such as the UEFA Champions League Final, World and & European Rugby Cup Finals, The Ashes Crickets Tests, numerous large scale rock concerts, world class opera at the purpose built Wales Millennium Centre and World Singer of the Year. Many of these events being held at the National Stadium and St David’s Hall – which are both in close proximity to the property

A470

A465

A40

A40

A48

A487

A55

A494

A483

A483

A40

A487

Fishguard

Milford Haven

Pembroke Dock Tenby

Carmarthen

Cardigan

Llanelli

Llandeilo

Neath

PortTalbot

Swansea

Newport

CARDIFFBridgend

MerthyrTydfil

Cwmbran

Abergavenny

Brecon

Newtown

LlandrindodWells

Aberystwyth

Dolgellau

Bala

Welshpool

Llangollen

Caernarfon

Porthmadog

Wrexham

Llandudno

Bangor

Anglesey

Conwy

Rhyl

Betws-y-coed

ColwynBay

Mold

M4

A487

INVESTMENT SUMMARYnCardiff is a Top 10 UK Retail Centre

nDominant commercial centre in Wales.

nPrime Period Restaurant Investment

n Improving Location

nGrade II listed building

n999 year leasehold interest

nLet at £65,000 with lease expiry in 2039

n Suitable SIPP opportunity

Leisure Investment106 ST MARY STREET

OFFERS INVITED IN EXCESS OF

£772,000 (SEVEN HUNDRED AND SEVENTY TWO THOUSAND POUNDS) EXCLUSIVE VAT, REFLECTING A

NET INITIAL YIELD OF 8.00% AFTER

PURCHASERS COSTS OF 5.31%.

For more information on our products and services:www.experian.co.uk/goad | goad.sales@uk.experian.com | 0845 601

6011

50 metres

Cardiff

Experian Goad Plan Created: 28/10/2019Created By: Calan Retail

Copyright and confidentiality Experian, 2019. © Crowncopyright and database rights 2019. OS 100019885

(TO BE REDEVELOPED)

SITUATIONThe property is in an improving location benefiting from busy pedestrian flow on the well established A3 pitch of St Mary Street. Nearby restaurants include the Turtle Bay, Pizza Express, a new KFC outlet, The Potted Pig and the Meeting Place.

The unit is 7 minutes walk to Central Station.

The location is undergoing significant change and improvement with complete redevelopment of Central Square where almost 700,000 sq ft of offices has been completed and the new £100m Interchange development is at an advanced stage.

The Interchange is planned to contain14 stands at ground level with around 5,000 sq ft of retail space, 87,000 sq ft of new grade A office space, 300 private apartments for rent, A new car park with spaces for 250 vehicles.

For further information please see https://centralsquarecardiff.co.uk/

RENTAL TONEThe property is in our opinion currently rack rented following the recent letting and equates to £29.23 psf applying half rate to the mezzanine and basement.

We believe this an affordable level of rent for the unit.

PROPERTY DESCRIPTION The property is the ground floor and basement of 106 High Street, which forms part of the attractive Grade II listed Elgin House building. The double height glazing gives the unit a strong prominence to the Street.

Leisure Investment106 ST MARY STREET

106

ST MARY STREET

C A R D I F F

TENURE999 year lease at a peppercorn from 19 December 2006, all costs are passed via the occupational lease.

TENANCYThe occupational lease is held by two private individuals trading as Lezzet Turkish Kitchen on a new 20 year full repairing and insuring basis expiring on 19th March 2039. The lease benefits from 5 yearly upward only rent reviews. The rent is £65,000 pax.

VATThe property is VAT elected and it is proposed the sale will be treated as a TOGC.

EPCThe Energy Performance Certificate Rating is “E”.

Leisure Investment106 ST MARY STREET

ACCOMMODATIONThe property has been measured in accordance with the latest edition of the RICS Code of Measuring Practice and provides the following net internal areas: AREA FT SQ M SQ

Ground Floor 1,532 141.92

Mezzanine 535 102.00

Basement 847 81.20

Total 2,932 272.39

A+A 0-25

B 26-50

C 51-75

D 76-100

E 101-125

F 126-150

GOver 150

Net zero CO emissions2

More energy efficient

Less energy efficient

0 0 4 7 2 4 3 - D C L G x E P C g e n 2 0 0 8

E 101-125115 This is how energy efficient the building is

PRICEOur client is seeking offers in excess of £772,000 (Seven Hundred and Seventy Two Thousand Pounds) exclusive VAT, reflecting a net initial yield of 8.00% after purchasers costs of 5.31%.for their Long Leasehold Interest.

Leisure Investment106 ST MARY STREET

1 Principality Stadium

2 Government Property Unit

3 Central Square

4 BBC Cymru

5 Cardiff Central Rail Station

6 Clayton Hotel (216 Rooms)

7 1 Callaghan Square

8 2 Callaghan Square

9 Premier Inn (248 Rooms)

10 Marriott Hotel (184 Rooms)

11 Radisson Blu Hotel (215 Rooms)

12 John Lewis

13 St. David’s 2

14 Cineworld Cinema

15 Admiral HQ

16 Motorpoint Arena

17 106 St Mary Street

18 St David’s Hall

19 Cardiff Castle

20 Holiday Inn (157 Rooms)

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9

6

7

8

518

19

20

14

13

12

3

4

2

16

15

17

10

11

KEY

Subject to contract & availability: Calan Retail Property Advisors and Holt Commercial for themselves and for the vendors or lessors of this property whose agents they are give notice that: The particulars are set out as a general outline only for the guidance of intended purchasers or lessees, and do not constitute, nor constitute part of, an offer of contract. All descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No reference to any services, fixtures or fittings shall constitute a representation (unless otherwise stated) as to the state or suitability for any intended function. Prospective purchasers or lessees should satisfy themselves as to the fitness of such items for their requirements. No person in the employment of Calan Retail Property Advisors and Holt Commercial has any authority to make or give representation or warrant whatever in relation to this property. Created by Carrick carrickcreative.co.uk November 2019

CONTACTSNick Golunski

T 02920 53 7714 M 07786 86 5418 E nick.golunski@calanretail.com

Andy Sturrock E andy.sturrock@calanretail.co.uk

ORDavid Allen FRICS

T 0121 661 4835 M 07909 532806E davidallen@holtcommercial.co.uk

106

ST MARY STREET CARDIFF

Leisure Investment