£435,000

Retail premises for sale

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Just added

£435,000

(£150.00/sq. ft)

Retail premises for sale

Cowbridge Road East, Cardiff CF11

2,900 sq. ft

Local area information

Property location

Nearby amenities

  • Severn Primary School 0.1 miles
  • St Mary's R.C. Primary School 0.2 miles
  • Ninian Park 0.4 miles
  • Cardiff Castle Waterbus Stop 0.5 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Features and description

Location
The property occupies a highly prominent and visible position fronting onto Cowbridge Road East, benefiting from a very high volume of footfall & passing traffic. Cowbridge Road East is a main arterial route leading to the City Centre via the A4161. The unit benefits from being situated close to local transport links and is approximately one mile from the City Centre. The surrounding area comprises a mixture of national and local independent established businesses & residential.
The main public car park in Canton is located just opposite this property, which makes it ideally positioned.
Nearby retail occupiers include Card Factory, Home Bargains, Cake Box, Gloden and Greggs, whilst also a very popular location with established independent restaurants including Purple Poppadom, Calabrisella (with two sites trading here), Kimchi, Fizz n Flour and Fowl & Fury, amongst many others.

Description
The property comprises a traditional 1900’s masonry-built end of terrace building. The property has been extended and adapted to create a retail unit on the ground floor with a self-contained flat above.
The first-floor residential accommodation comprises of a self-contained very large 3-bedroom apartment, which benefits from separate access at the rear of the property via the shared private car parking area. The flat is currently vacant following the previous tenant recently vacating – this is however ready to be re-let by the current owner.
The ground floor unit benefits from a return shopfront with frontage onto Cowbridge Road East – currently being fully refurbished by the new ground floor occupier as part of their extensive fit-out works. The property benefits from the following approximate net internal areas (these areas are subject to on-site verification and are not to be relied upon).

Ground Floor A3 unit: C. 176.51 sq.m / c. 1900 sq.ft
First Floor 3 Bed Flat: C. 93 sq.m / c. 1001 sq.ft

There is a private rear car park at the rear of the property with a gated entrance, with shared parking between the retail unit and flat, providing 3 parking spaces. 1 of these parking spaces is demised to the ground floor commercial occupier.

Tenancies
Ground Floor A3 Restaurant/Takeaway unit: Let on a new 10-year lease from 30th May 2025 to Rasa Vighna Grill Pvt Ltd, trading as Rio’s Piri Piri. The commencing rental is £22,500 pax and is subject to a 5th year tenant break option and a 5th year rent review. There is a 3-month rental deposit/bond (£5,625) and a Personal Guarantee from a company director for the duration of the lease.
First Floor 3 bed flat Currently vacant – in very good condition and due to be re-let imminently by the current owner. The estimated rental value would be £1200 pcm / £14,400 pax.
Combined Rental Value once fully let: We would anticipate the combined rental value being c. £36,900 per annum, assuming the flat is re-let at £1200 pcm.

Proposal
We will be seeking offers in the region of £435,000 for the freehold property as a whole. A purchase at this level would reflect a Net Initial Yield of 8.14%, assuming Purchaser’s Costs of 4.18%, on the assumption that the flat is re-let at £1200 pcm.
Alternatively, the owners will consider selling the two elements separately, seeking offers in the region of £260,000 for the ground floor commercial unit only. The residential flat asking price is available upon request.
Vat is not applicable.
Any sale of the whole property will be subject to the existing tenancies.

Legal Costs
Each party is to be responsible for their own legal and professional costs incurred in this transaction. We may require an abortive cost undertaking.

Epc
Ground Floor Commercial Unit – C Rating (valid until 21 April 2035)
First Floor Residential Unit – D Rating (valid until 23 August 2034)

Vat
It is believed that the property is not elected for Vat.

Anti-Money Laundering Regulations
We are obliged to verify the identity of proposed purchasers once a sale has been agreed. An aml form will need to be completed by proposed purchasers
once Heads of Terms have been agreed along with providing the necessary id upon request.

Floor plans and tours

Floor plans (1)

Floor plan 1

More information

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  1. Zoopla
  2. Commercial for sale
  3. Cardiff
  4. South Glamorgan
  5. Cardiff Bay
  6. Canton
  7. Cowbridge Road East