Swansea is the principal retail and commercial centre for South West Wales.
The city benefits from having an extensive catchment population of over 315,000 people.
The subject property enjoys a prominent and visible position on the A483 Carmarthen Road, the main arterial route linking between J47 of the M4, Carmarthen and the city centre.
There is very limited DIY competition, with there only being one other DIY store in Swansea, which is unusual for a city of this size.
The unit totals 52,000 sq ft and is let to the 5A1 covenant of Wickes Building Supplies Limited.
Large site area of 5.88 acres and attractive car parking ratio of 1:215 sq ft allowing for further development.
Attractive unexpired lease term of around 11 years, with a rent of £669,780 per annum, reflecting a relatively low level per sq ft of £12.88.
Asset management potential to include a pod development subject to planning.
We are instructed to seek offers of £9,220,000 (Nine Million, Two Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. This reflects an attractive net initial yield of 6.75% (assuming purchaser’s costs of 7.57%).