Lot 5 Auction

240 Oxford Street, Swansea, SA1 3BL View map

Sold STC

Snapshot

FOR SALE BY PUBLIC AUCTION - Commercial Investment Opportunity. Vacant Ground Floor Unit, with tenanted upper floors - Business Unaffected


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    Description

      240 Oxford Street is conveniently located along the pedestrianised area in Swansea City centre and provides an ideal investment opportunity with a blank canvas on the ground floor, which previously has been occupied as a restaurant and cafe and a tenanted nail and brow bar on the upper floors, with its own separate access. We have been advised that the tenant on the upper floors is well established and has been in occupation for the last 6 years and is currently occupying on a 3 year lease at a rent of £6,200 per annum.

      The ground floor area extends to approximately 797 sq.ft (74.04 sq.m) including a sales area to the front and disabled wc and storage area to the rear. The upper floors are accessed via a separate entrance to the side of the unit providing stairs to the first floor. The beauty salon provides two rooms on the first floor for a nail bar and eyebrow bar and a store room/office, with the second floor providing a beauty room, offices, store rooms, kitchenette and wc. This accommodation extends to approximately 740 sq.ft (68.8 sq.m) according to the VOA website.

      In our opinion, once fully let, the property could be generating a rental income in the region of £25,000 per annum.

      The property is accessed directly off Oxford Street, with adjacent occupiers being a YMCA charity shop and Greggs, with occupiers in the nearby vicinity including Poundland, Pound Stretcher, Peacocks, Bon Marche and Waterstones. A new mixed use development along the street is currently underway. Biophilic Living Swansea will provide a living and working environment in the city, providing affordable new homes and workspaces alongside a community urban farm in the heart of Swansea.

    Accommodation

      GF: Sales area, storage areas, w/c, access to small rear yard. Separate access to stairs to upper floors
      FF: Landing, nail bar, eyebrow bar, store room
      SF: Landing, kitchenette, beauty room, offices, store room, w/c

    Tenure

      Presumed Freehold – please refer to legal pack for verification of tenure

    Viewing

      Viewing by appointment with Seel and Co (029) 2037 0117

    Additional Fees

      Buyers Premium – 1% with a minimum of £1,000 (inc of VAT) payable on exchange of contracts. Please check the legal pack for any further disbursements that may be payable by the purchaser on completion.

      Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

    Further Information

      Auctioneers Office, Seel and Co Ltd (029) 2037 0117

    Auction Details

      FOR SALE BY PUBLIC AUCTION on 5 July 2022 online via the Seel and Co website. Bidding will commence from midday on Monday, 4 July and conclude in order from Lot 1 at 4:00 pm on Tuesday, 5 July 2022

    Need to know

    Please refer to legal pack and auction catalogue prior to bidding.

    Please be aware that you cannot bid without having a deposit.

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