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Baglan Bay Retail Park

Afan Way, Port Talbot, SA12 8BZ 27,140 sq ft

Description

Port Talbot is a seaside town, situated on the east of Swansea Bay, 35 miles north west of Cardiff, with a captive catchment population of over 57,000 people. Excellent road and rail communications with Junction 41 of the M4 within 1 mile of the property and the local train station 1.5 miles away. The retail park is located in a prominent position fronting the A4241 dual carriageway, which is the main route to nearby towns Swansea and Bridgend. The scheme provides a good variety of tenants, which are appropriate for the local catchment, combining discount and convenience retailing with community use and, along with the adjacent B&M, provides the only retail warehousing scheme in the town. The park totals 27,740 sq ft and is occupied by Pets at Home, Halfords and Poundstretcher. My Dentist will occupy their first ever retail warehouse unit here. The My Dentist lease has the benefit of RPI uplifts, collared and capped at 1-2.5% per annum compounded. Current rent of £228,684 per annum, which equates to £8.24 per sq ft. Largely A1 with restrictions use class, with flexible accommodation allowing for merging or subdivision of units. Asset management potential including re-gear opportunities and a pod unit development, subject to the necessary consents. Asset management potential including re-gear opportunities and a low site cover of 31%, allowing for further development on site, subject to the necessary consents. We have been instructed to seek offers in excess of £2,758,000 (Two Million, Seven Hundred and Fifty Eight Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 7.75%, assuming purchaser’s costs of 6.99%. This reflects a low capital value of £99.42 per sq ft and £1,392,929 per acre.

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