Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a high yielding retail investment situated on a prime pedestrianised pitch and let to Poundland with evident asset management potential.
Arranged across ground and first floors, the property is fully let to Poundland Limited, a long standing occupier of 10+ years on a lease which expired 23.09.2024 paying £100,000 per annum. We understand the tenant is continuing to pay rent and is therefore holding over.
We consider the property offers evident asset management potential via renewal of the lease and improvement of rents. The nearby 143 Holton Road was recently renewed to Iceland Foods Limited at a rent reflecting £5.82 per sq ft. If the same rent was applied to the subject property it would reflect an estimated rental value of £130,000 per annum.
We understand the tenant has recently served a Section 26 notice to renew the lease.
The property occupies a prominent pitch with a frontage to the prime pedestrianised pitch of Holton Road. The street comprises the principal retail amenity in Barry and benefits from both high footfall and low vacancy. The area is characterised by a mix of national retailers including Boots, Greggs, and Iceland.
Tenure
Freehold
Tenancy
The property is let to Poundland Limited on a five year lease which expired 23.09.2024 and paying £100,000 per annum.
We understand the tenant is continuing to pay rent and occupy the premises and is therefore holding over.
Poundland Limited
Rent
Notes
We understand the property is elected for VAT. It is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).