Property Description

•Opportunity to acquire a portfolio of 3 No. modern industrial/workshop units with an ERV of £75,600 per annum by way of a sale of 100% of the share capital of SPV Holding Company.

•The portfolio comprises of a pair of semi-detached industrial/workshop units providing in total approximately 650sq.m (6994 sq.ft) GIA held long leasehold tenure at a peppercorn rental and an adjoining detached industrial/ workshop unit providing approximately 694sq.m (7467sq.ft) GIA again held long leasehold at a peppercorn rental.

•Offers in excess of £950,000 are invited for 100% of the share capital of SPV Brynmenyn Estates Limited

LocationThe Adjoing properties are located fronting Millers Avenue on the Brynmenyn Industrial Estate, Bridgend.

The Brynmenyn Industrial Estate is strategically located lying just 2 miles north of Junction 36 (Sarn Park Interchange) of the M4 Motorway. Cardiff lies approximately 22 miles to the east and Swansea 15 miles to the west.

Description47A MILLERS AVENUE
Briefly comprises a pair of modern semi-detached industrial/workshop units within a secure yard and providing the following accommodation:-

Left-Hand Side Unit: 290sq.m (3125sq.ft) GIA
set within a secure yard.

Right-Hand Side Unit: 290sq.m (3125sq.ft) GIA together with a mezzanine office providing a further 70sq.m (750sq.ft) GIA

The units provide for clear span with 5.25m to eaves and 7.32m to apex. Each unit has the benefit of an electrically operated roller shutter door opening out onto a fully concrete surfaced yard.

9 MILLERS AVENUE
A well presented detached industrial/workshop unit providing in total approximately 694sq.m (7467sq.ft) GIA.

The property has the benefit of very well presented ground and first floor office/ancillary space and is set within a generous size secure yard.

Tenure47A Millers Avenue is held long leasehold tenure under terms of a 125 year lease from 1st January 1998 at a peppercorn rental from freeholder Bridgend County Borough Council.

9 Millers Avenue is held long leasehold tenure under terms of a 125 year lease from 25th October 1991 at a peppercorn rental from freeholder Bridgend County Borough Council.

Tenancies47A Millers Avenue
The left-hand side unit is let to Hydrainer Pump Hire Limited under terms of a secure FRI Lease expiring May 2034. Lease contains tenant only Break Clause exercisable May 2029. The current rental passing is £23,500 per annum exclusive with a rent review May 2029.

The right-hand side unit is to be made available with vacant possession with an ERV of £20,000 per annum.

Unit 9 Millers Avenue
Let to Selwood Group Limited under terms of a secure FRI lease expiring 17th May 2031. The current rental is £32,129 per annum exclusive with a CPI rent review 18th May 2028. There is a Tenant Break Clause 18th May 2028

Sale PriceOffers in excess of £950,000 are invited for 100% of the shares of the SPV Brynmenyn Estates Limited whose only assets are 47A Millers Avenue and 9 Millers Avenue.

The quoting price of £950,000 equates to a low property capital value of just £66 psf.

A sale of the properties by way of a sale of the company shares is considered to be a tax efficient proposal for both buyer and seller. Further details on application.

Legal CostsEach party to be responsible for their own legal costs incurred in the transaction.

EpcEnergy Rating - Band C

VatWe are advised that No VAT is payable on the purchase the company shares.

Anti Money Laundering RegulationsIn order to discharge its legal obligations, including under applicable anti-money laundering regulations, the successful applicant will agree to provide certain information when Heads of Terms are agreed.

ViewingStrictly by appointment only through
sole selling agents:

Messrs Watts & Morgan LLP
Tel: (01656) 644288
Email: [email protected]

Please ask for
Dyfed Miles or Matthew Ashman