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10/11 J-Shed, Kings Road,

10/11 J-Shed, SA1 Waterfront, Swansea, SA1 8PL

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Summary

The J-Shed building provides modern, high-quality mixed-use commercial space in a unique building overlooking the SA1 Dock. 

This landmark Grade II listed building provides a mix of accommodation with commercial occupiers on the ground floor including Rasoi and La Parrilla, together with a mix of residential and office occupiers to the first floor.

  • Let to UWTSD on a new 10 year lease.
  • Dual planning consent for business and residential use.
  • Undoubted Covenant Strength
  • Adjacent to new £350m SA1 Swansea Waterfront Campus
  • £27,500 per Annum
  • Net Initial Yield of 7%
Property Type Investment
Tenure For Sale
Status Available
Price £375,000
Size2,418 sq ft

Location

J-Shed is situated in the heart of the £200m redevelopment of SA1 in Swansea which houses occupiers including Admiral, OSTC, Village Hotels, Starbucks and UWTSD.

The unique property benefits from pedestrian access into Swansea City Centre and Railway Station with excellent road links via the Fabian Way dual-carriageway accessing the M4 via Junction 42. 

10/11 J-Shed, SA1 Waterfront, Swansea, SA1 8PL

Description

Specification

The property benefits from the following features.

  • Male and female WC with shower.
  • Separate kitchen facilities 
  • Fully furnished. 
  • Conference / Board Room 
  • A mix of strip and spotlights. 
  • Bespoke window sails to the pitched roof. 

Accommodation

Accommodation

The available accommodation has been measured on a NIA basis in accordance with IPMS 3;

Unit sq ft sq m
Ground Floor 1,633 152
Mezzanine Level 785 73
Total 2,418 225

Terms

Tenure

The Long Leasehold interest remaining in the property is available with c.107 years remaining until expiry. The property is subject to the occupational tenant UWTSD.

The property is let on a new 10 year fully repairing and insuring lease to the University of Wales Trinity St Davids at £27,500 per annum. The lease contains a 3 year break tenant only option and upwards only rent review on the 5th year of the term. 

Covenant

The property is let in its entirety to the undoubted covenant of the University of Wales Trinity St David. 

Terms

Long Leasehold sale - £375,000 exclusive of VAT. 

A purchase of the asking price represents a net initial yield of 7% (assuming 1.8% solicitors/surveying fees plus stamp duty). 

Other Information

Service Charge

The current service charge budget is running at £6,700 (£2.77 per sq ft) per annum exclusive, payable by the occupational tenant.

Planning

The unit benefits from dual planning consent for office and residential use. We would encourage interested parties to make their own enquiries with the local planning authority in this regard.

Business Rates

2018/19 Rates Payable: £12,336 per annum (based on a rateable value of £24,000).

The valuation Office assessment is available as a download via the BP2 Website.

EPC

The property has been graded as 183 (G). Due to its Grade II status, the property benefits from an EPC 'Exemption Certificate'. The EPC document is available for download via the BP2 website.

VAT & Legal Costs

All prices, premiums and rents are quoted exclusive of VAT. Each party is responsible for their own legal costs incurred in any transaction.

Viewing & Further information

For further information, or if you would like to arrange a viewing, please contact our agents.

image of David Blyth MRICS

Enquire Now

David Blyth MRICS

07966 752301

image of Roger Poolman FRICS

Enquire Now

Roger Poolman FRICS

07775 037782

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