£320,000
Retail premises for sale
Property photos
Just added
Fixed price
£320,000
(£203.95/sq. ft)
Retail premises for sale
Cowbridge Road East, Cardiff CF111,569 sq. ft
Local area information
Property location
Nearby amenities
- Severn Primary School 0.1 miles
- St Mary's R.C. Primary School 0.1 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 to the rear of this property, which makes it ideally positioned.
Nearby retail occupiers include Card Factory, Home Bargains, Cake Box, Savers, Boots, Rio’s Piri Piri 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 subject property is a mid-terraced three storey property assumed to have been constructed in the late nineteenth to early twentieth century. The property sits on a self-contained site and forms part of a larger terrace of like properties to the northern side of Cowbridge Road East between the junctions of Wyndham Crescent to the east and Severn Road to the west, approximately 1.5 miles to the west of Cardiff city centre. The property provides a retail unit at ground floor, presently occupied by Perfect Vision Opticians, with two self-contained one-bedroom flats to the upper floors.
The property benefits from a single storey extension to the rear and the first and second floors have been converted from offices into 1-bedroom flats across first and second floor, making this an ideal investment opportunity.
The ground floor retail unit benefits from electric roller shutters and a glazed shopfront. The retail unit also benefits from gas, electricity and water supplies, whilst the flats have electric and water only. The retail unit is currently fitted out as an Optician and is expected to be sold in its current layout and condition.
The property benefits from the following approximate floor areas (these areas are subject to on-site verification and are not to be relied upon).
Ground Floor Retail Unit:
Front Retail Area: 50.53 sq.m / 544 sq ft
Office 1: 11.82 sq.m / 127 sq ft
Office 2: 11.96 sq.m / 129 sq ft
Staff Room: 7.44 sq.m / 80 sq ft
Total NIA c. 81.75 sq.m / 880 sq.ft
First Floor 1 Bed Flat: C. 32 sq.m / c. 344 sq.ft
Second Floor 1 Bed Flat: C. 32 sq.m / c. 344 sq.ft
Total Area Combined: C. 145.75 sq.m / c. 1569 sq.ft
(excluding common areas / stairwells)
Tenancies
The whole building is currently leased to Canton Optical Limited under a 15-year lease commencing on 6th April 2017 at a passing rental of £24,000 per annum exclusive. The lease is subject to a photographic schedule of condition. The tenant is permitted to sub-let both flats.
However, please note that the Optician tenant is no longer trading from the ground floor retail unit and they continue to sub-let both flats.
The first-floor flat is sub-let at £550 pcm – the tenancy commenced in September 2022.
The second-floor flat is sub-let at £550 pcm – the tenancy that commenced in September 2021.
Tenure
The property is held freehold under title number WA72207
Price / Proposal
We have been instructed to seek offers of £320,000 for the Freehold interest, which reflects a net initial yield of 7.28% (assuming purchaser costs of 3%) and an indicative reversionary yield of c. 10% +*.
Any sale of the property will be subject to the existing tenancies, although the ground floor retail unit can potentially be sold with vp if required – subject to negotiation.
*Agent Note: We consider the current passing rent to be highly reversionary and, in our opinion, once the retail unit is re-let separately along with renewing the flat tenancies, the building should generate a combined estimated rental income of c. £33,000 + per annum, which reflects a Gross Reversionary Yield of c. 10%+.
Legal Costs
Each party is to be responsible for their own legal and professional costs incurred in this transaction.
Energy Performance Certificates
Ground Floor Commercial Unit – New Epc has been commissioned
First Floor Residential Unit – 44 E Rating (valid until August 2035)
Second Floor Residential Unit – 49 E Rating (valid until August 2035)
Vat
It is believed that the property is not elected for VAT – to be confirmed
Commercial Unit Rateable Value
Rateable Value (April 2026): £10,750
ubr (2026/2027): 0.350
Estimated Rates Payable: £3,762.50
All interested parties are strongly encouraged to verify the rates payable via Cardiff City Council
Planning
The ground floor retail unit has been trading as an Optician for a number of years. All interested parties are advised to verify the existing permitted planning use via the local council. Planning consent was secured in 2012 to convert the uppers into two flats.
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.
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 to the rear of this property, which makes it ideally positioned.
Nearby retail occupiers include Card Factory, Home Bargains, Cake Box, Savers, Boots, Rio’s Piri Piri 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 subject property is a mid-terraced three storey property assumed to have been constructed in the late nineteenth to early twentieth century. The property sits on a self-contained site and forms part of a larger terrace of like properties to the northern side of Cowbridge Road East between the junctions of Wyndham Crescent to the east and Severn Road to the west, approximately 1.5 miles to the west of Cardiff city centre. The property provides a retail unit at ground floor, presently occupied by Perfect Vision Opticians, with two self-contained one-bedroom flats to the upper floors.
The property benefits from a single storey extension to the rear and the first and second floors have been converted from offices into 1-bedroom flats across first and second floor, making this an ideal investment opportunity.
The ground floor retail unit benefits from electric roller shutters and a glazed shopfront. The retail unit also benefits from gas, electricity and water supplies, whilst the flats have electric and water only. The retail unit is currently fitted out as an Optician and is expected to be sold in its current layout and condition.
The property benefits from the following approximate floor areas (these areas are subject to on-site verification and are not to be relied upon).
Ground Floor Retail Unit:
Front Retail Area: 50.53 sq.m / 544 sq ft
Office 1: 11.82 sq.m / 127 sq ft
Office 2: 11.96 sq.m / 129 sq ft
Staff Room: 7.44 sq.m / 80 sq ft
Total NIA c. 81.75 sq.m / 880 sq.ft
First Floor 1 Bed Flat: C. 32 sq.m / c. 344 sq.ft
Second Floor 1 Bed Flat: C. 32 sq.m / c. 344 sq.ft
Total Area Combined: C. 145.75 sq.m / c. 1569 sq.ft
(excluding common areas / stairwells)
Tenancies
The whole building is currently leased to Canton Optical Limited under a 15-year lease commencing on 6th April 2017 at a passing rental of £24,000 per annum exclusive. The lease is subject to a photographic schedule of condition. The tenant is permitted to sub-let both flats.
However, please note that the Optician tenant is no longer trading from the ground floor retail unit and they continue to sub-let both flats.
The first-floor flat is sub-let at £550 pcm – the tenancy commenced in September 2022.
The second-floor flat is sub-let at £550 pcm – the tenancy that commenced in September 2021.
Tenure
The property is held freehold under title number WA72207
Price / Proposal
We have been instructed to seek offers of £320,000 for the Freehold interest, which reflects a net initial yield of 7.28% (assuming purchaser costs of 3%) and an indicative reversionary yield of c. 10% +*.
Any sale of the property will be subject to the existing tenancies, although the ground floor retail unit can potentially be sold with vp if required – subject to negotiation.
*Agent Note: We consider the current passing rent to be highly reversionary and, in our opinion, once the retail unit is re-let separately along with renewing the flat tenancies, the building should generate a combined estimated rental income of c. £33,000 + per annum, which reflects a Gross Reversionary Yield of c. 10%+.
Legal Costs
Each party is to be responsible for their own legal and professional costs incurred in this transaction.
Energy Performance Certificates
Ground Floor Commercial Unit – New Epc has been commissioned
First Floor Residential Unit – 44 E Rating (valid until August 2035)
Second Floor Residential Unit – 49 E Rating (valid until August 2035)
Vat
It is believed that the property is not elected for VAT – to be confirmed
Commercial Unit Rateable Value
Rateable Value (April 2026): £10,750
ubr (2026/2027): 0.350
Estimated Rates Payable: £3,762.50
All interested parties are strongly encouraged to verify the rates payable via Cardiff City Council
Planning
The ground floor retail unit has been trading as an Optician for a number of years. All interested parties are advised to verify the existing permitted planning use via the local council. Planning consent was secured in 2012 to convert the uppers into two flats.
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 (2)
2 floor plans available
View the floor plans to understand the space and layout of this property.
More information
Listed by
DTR Surveyors
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