Royal Welsh Warehouse - Aston Rose
INVESTMENT FOR SALE
Royal Welsh Warehouse
Newtown • Powys SY16 1BJ
Royal Welsh Warehouse Newtown • Powys SY16 1BJ • • • • • • • •
Grade II period building of local importance 80,500 sq GIA Freehold Let to mul ple tenants Current gross income £89,396 pa Development opportunity (STP) £9.32 psf Capital Value Offers in excess of £750,000
Descrip on The Pryce Jones building was constructed as a mail order centre in 1879. The building is of red brick construc on and is laid out over 5 floors totalling over 80,000 sq . The lower ground, ground and first floors are currently used as retail areas whilst the 2nd and 3rd floors are being used as a place of worship by a local church. Internally each floor has extremely generous ceiling heights and allows for various uses. Two li s serve the building, one is a 6 person passenger li whilst the other is a large goods li .
Income The property is currently producing a gross income of £89,396 pa. Certain tenants are on an inclusive rent and as a result the non recoverable expenditure was in the region of £70,600 (net of VAT) for the last 12 months. Therefore the net income is circa £19,120 between May 2014 & May 2015.
2
Further to the above there is also a derelict two bedroom lodge on the site which could be refurbished. Over a million pounds was spent on repairing and redecora ng the main building in 2012 which included the major works to the roof, windows and brickwork. Shrewsbury Telford Welshpool
Loca on With a market in opera on since medieval mes, Newtown grew strongly with the expansion of the woollen industry in the early 19th century. Newtown is now the largest town within the county of Powys with a popula on of over 19,500 people. Two major roads cross in Newtown town centre: they are the A483 from Swansea to Chester and the A489 from Machynlleth to Craven Arms. The train sta on which is located next to the property has a direct train that travels to Birmingham every other hour.
Wolverhampton
NEWTOWN
Birmingham
Aberystwyth
Worcester
Royal Welsh Warehouse Newtown, Powys SY16 1BJ
Tenancy Schedule
Situa on The building is the most prominent in Newtown. The car park has parking for more than 60 vehicles and offers opportuni es to be further u lised.
Tenure Freehold
Floor
Tenant
Lease Date 24/02/2014
Term Commencement 18/12/2013
Basement Ground Floor Ground Floor Ground Floor
Li lewoods Clearance Michael Griffin Vacant Phoenix Furniture
First Floor
Lease End
Term
17/12/2023
10
Rent (net of VAT) £22,500.00
23/05/2014 07/05/2014
23/05/2014 03/05/2014
01/05/2014 02/05/2019
3 5
£1,976.70 £12,000.00
Simply the Best
04/06/2013
04/06/2013
03/062018
5
£26,800.00
First Floor
Kutz & Co
15/05/2013
15/05/2013
14/05/2018
5
£3,120.00
First Floor
Amy Thorpe
13/06/2014
08/05/2014
07/05/2019
5
£1,000.00
Part Second Floor Second Floor & Part Third Part Third & Fourth Floor
Vacant Church Group
07/05/2014
07/05/2014
27/05/2016
2 years 2 weeks
Vacant
-
-
-
Asset Management opportuni es -
Amend leases to allow for an element of recovery of service charge.
-
31,800 sq of available space to let to increase income.
-
Poten al for the car park to produce an income eg parking charges and car boot sales and fringe development
-
Future conversion to hotel, leisure, residen al facili es.
-
Development of the Lodge.
-
£22,000.00 0 -
Break Date
L&T Act
-
Outside
03/05/2016 & 03/05/2018 Mutual break 03/06/2016 Mutual break 15/05/2016 Any me a er 08/05/2015 7/11/2015
Outside Outside
Outside
-
-
Outside Outside Outside
VAT Accommoda on Floor Basement Ground First Second Third Fourth
sq 12,819.06 14,220.17 13,899.77 14,020.76 14,456.59 11,169.26
Royal Welsh Warehouse Newtown, Powys SY16 1BJ
sq m 1,190.93 1,321.09 1,291.33 1,302.57 1,343.06 1,037.66
The Property is elected for VAT and it is proposed the sale will be by way of TOGC.
Price We are instructed to seek offers in excess of £750,000 (Seven Hundred and Fi y Thousand Pounds) subject to contract and exclusive of VAT.
3
For further informa on please contact Joint Agents:
St Albans House 57/59 Haymarket London SW1Y 4QX 020 7629 1533
Tim Richards 020 7629 1533 [email protected]
Kathryn Davies 01686 626160 [email protected]
www.astonrose.co.uk
Sam Harper 020 7629 1533 [email protected] OS Plans and Maps reproduced with permission. ©Crown Copyright 2014. All rights reserved. Licence Number 100047514
MISREPRESENTATION ACT These particulars are believed to be correct and, where practicable, reasonable steps have been taken to ensure their accuracy, however this cannot be guaranteed. They do not form part of any offer or other contract. The owner of this property does not make or give, representations or warranties in relation to this property. Aston Rose (West End) Limited and its employees do not accept any responsibility for information supplied to them by the owner or any third party. Any intending purchaser or lessee must satisfy itself by inspection or otherwise as to the correctness of the particulars. All measurements are approximate. The plans in these particulars are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and do not form part of any contract.
JUNE 2015
INVESTMENT FOR SALE
Royal Welsh Warehouse
Newtown • Powys SY16 1BJ
Royal Welsh Warehouse
Newtown • Powys SY16 1BJ
Royal Welsh Warehouse Newtown • Powys SY16 1BJ • • • • • • • •
Grade II period building of local importance 80,500 sq GIA Freehold Let to mul ple tenants Current gross income £89,396 pa Development opportunity (STP) £9.32 psf Capital Value Offers in excess of £750,000
Descrip on The Pryce Jones building was constructed as a mail order centre in 1879. The building is of red brick construc on and is laid out over 5 floors totalling over 80,000 sq . The lower ground, ground and first floors are currently used as retail areas whilst the 2nd and 3rd floors are being used as a place of worship by a local church. Internally each floor has extremely generous ceiling heights and allows for various uses. Two li s serve the building, one is a 6 person passenger li whilst the other is a large goods li .
Income The property is currently producing a gross income of £89,396 pa. Certain tenants are on an inclusive rent and as a result the non recoverable expenditure was in the region of £70,600 (net of VAT) for the last 12 months. Therefore the net income is circa £19,120 between May 2014 & May 2015.
2
Further to the above there is also a derelict two bedroom lodge on the site which could be refurbished. Over a million pounds was spent on repairing and redecora ng the main building in 2012 which included the major works to the roof, windows and brickwork. Shrewsbury Telford Welshpool
Loca on With a market in opera on since medieval mes, Newtown grew strongly with the expansion of the woollen industry in the early 19th century. Newtown is now the largest town within the county of Powys with a popula on of over 19,500 people. Two major roads cross in Newtown town centre: they are the A483 from Swansea to Chester and the A489 from Machynlleth to Craven Arms. The train sta on which is located next to the property has a direct train that travels to Birmingham every other hour.
Wolverhampton
NEWTOWN
Birmingham
Aberystwyth
Worcester
Royal Welsh Warehouse Newtown, Powys SY16 1BJ
Tenancy Schedule
Situa on The building is the most prominent in Newtown. The car park has parking for more than 60 vehicles and offers opportuni es to be further u lised.
Tenure Freehold
Floor
Tenant
Lease Date 24/02/2014
Term Commencement 18/12/2013
Basement Ground Floor Ground Floor Ground Floor
Li lewoods Clearance Michael Griffin Vacant Phoenix Furniture
First Floor
Lease End
Term
17/12/2023
10
Rent (net of VAT) £22,500.00
23/05/2014 07/05/2014
23/05/2014 03/05/2014
01/05/2014 02/05/2019
3 5
£1,976.70 £12,000.00
Simply the Best
04/06/2013
04/06/2013
03/062018
5
£26,800.00
First Floor
Kutz & Co
15/05/2013
15/05/2013
14/05/2018
5
£3,120.00
First Floor
Amy Thorpe
13/06/2014
08/05/2014
07/05/2019
5
£1,000.00
Part Second Floor Second Floor & Part Third Part Third & Fourth Floor
Vacant Church Group
07/05/2014
07/05/2014
27/05/2016
2 years 2 weeks
Vacant
-
-
-
Asset Management opportuni es -
Amend leases to allow for an element of recovery of service charge.
-
31,800 sq of available space to let to increase income.
-
Poten al for the car park to produce an income eg parking charges and car boot sales and fringe development
-
Future conversion to hotel, leisure, residen al facili es.
-
Development of the Lodge.
-
£22,000.00 0 -
Break Date
L&T Act
-
Outside
03/05/2016 & 03/05/2018 Mutual break 03/06/2016 Mutual break 15/05/2016 Any me a er 08/05/2015 7/11/2015
Outside Outside
Outside
-
-
Outside Outside Outside
VAT Accommoda on Floor Basement Ground First Second Third Fourth
sq 12,819.06 14,220.17 13,899.77 14,020.76 14,456.59 11,169.26
Royal Welsh Warehouse Newtown, Powys SY16 1BJ
sq m 1,190.93 1,321.09 1,291.33 1,302.57 1,343.06 1,037.66
The Property is elected for VAT and it is proposed the sale will be by way of TOGC.
Price We are instructed to seek offers in excess of £750,000 (Seven Hundred and Fi y Thousand Pounds) subject to contract and exclusive of VAT.
3
For further informa on please contact Joint Agents:
St Albans House 57/59 Haymarket London SW1Y 4QX 020 7629 1533
Tim Richards 020 7629 1533 [email protected]
Kathryn Davies 01686 626160 [email protected]
www.astonrose.co.uk
Sam Harper 020 7629 1533 [email protected] OS Plans and Maps reproduced with permission. ©Crown Copyright 2014. All rights reserved. Licence Number 100047514
MISREPRESENTATION ACT These particulars are believed to be correct and, where practicable, reasonable steps have been taken to ensure their accuracy, however this cannot be guaranteed. They do not form part of any offer or other contract. The owner of this property does not make or give, representations or warranties in relation to this property. Aston Rose (West End) Limited and its employees do not accept any responsibility for information supplied to them by the owner or any third party. Any intending purchaser or lessee must satisfy itself by inspection or otherwise as to the correctness of the particulars. All measurements are approximate. The plans in these particulars are published for convenience of identification only, and although believed to be correct, their accuracy is not guaranteed and do not form part of any contract.
JUNE 2015
INVESTMENT FOR SALE
Royal Welsh Warehouse
Newtown • Powys SY16 1BJ
