Summary
To be sold by clicktopurchase® Best Offers by 2pm Wednesday 25th October,
unless sold prior
Freehold retail & residential investment opportunity
New letting from August 2020
Established national tenant, “Trespass”
Self - contained residential flat on second floor
Offers in excess of £325, 000, subject to contract
12. 8% Net Initial Yield
Location
Aberystwyth is an historic University town - the largest town in Mid Wales,
located approximately 117 km (73 miles) north of Swansea, 122 km (76 miles)
south - west of Shrewsbury and 161 km (100 miles) north - west of Cardiff.
As well as being the administrative centre for the County of Ceredigion,
Aberystwyth is also the principal retail and commercial destination.
The town has a primary catchment population of c57, 000 – boosted by a
university with over 10, 500 students present most of the year - as well as a
strong tourism base.
Together with the University of Wales – Aberystwyth’s main employers are the
Welsh Assembly – who have their Mid Wales HQ here, Bronglais General Hospital,
the National Library of Wales and Ceredigion County Council who again have
their HQ in the town. This gives the town an above average representation in
the top social demographics (ab and C).
This results in an affluent demographic which is relatively self - contained –
with the nearest main shopping areas being Carmarthen 1. 5 + hours and
Shrewsbury 1. 75+ hours away.
The town benefits from good road communications, being served by the A487 and
A44. Aberystwyth is also connected to the national railway network with a
fastest journey time to Shrewsbury of 1 hour 50 minutes. There are also
regular services to Birmingham with a journey time of approximately 3 hours.
In addition to housing the prestigious National Library of Wales, Aberystwyth
is a popular holiday resort and a central base for exploring the Mid Wales
Coast, being nestled between the Cambrian Mountains and Cardigan Bay. With a
mile long Victorian promenade, the seafront also boasts the oldest pier in
Wales. Aberystwyth University was awarded the Welsh University of the Year by
The Times & Sunday Times, Good University Guide 2020.
Situation
The property is located in the heart of the town centre, occupying a prominent
position on Terrace Road, close to its junction with Portland Road. Great
Darkgate Street, the town’s principal retailing thoroughfare, is also in close
proximity. Aberystwyth Train Station is a mere 0. 32 km (0. 2 miles) to the
south.
In addition to multiple high street names, the town centre comprises
independent shops, cafes and an award - winning Farmers’ Market. Surrounding
occupiers include wh Smith (opposite), The Works, (adjacent), Boots, Spar,
Barclays and Barnardo’s.
Description
The property comprises a ground floor double - fronted retail unit with
ancillary accommodation on first floor, along with a residential flat on the
second floor.
Internally, the retail floor area has been fitted out by the tenant to their
usual corporate style and is predominantly open plan with ancillary areas.
Accommodation
The property has been measured by bkr Floor Plans and provides the following
accommodation:
Gross Frontage 11. 66 m 38’3”
Net Frontage 11. 20 m 36’9”
Ground Floor 184. 69 sq m 1, 988 sq ft
Zone A 62. 61 sq m 674 sq ft
Zone B 63. 82 sq m 687 sq ft
Zone C 54. 72 sq m 589 sq ft
Remainder 3. 44 sq m 37 sq ft
First Floor 156. 54 sq m 1, 685 sq ft
Total Net Internal Area 341, 22 sq m 3, 673 sq ft
Second Floor (flat) 88. 44 sq m 952 sq ft
Total Gross Internal Area 88. 44 sq m 952 sq ft
A set of floor plans is available to download and the measured survey report
will be re - addressed to a purchaser at a cost of £690 + VAT.
Tenure
Freehold.
Tenancy
The ground and first floor is let to Trespass Retail Properties Limited (t/a
Trespass) on a full repairing and insuring lease for a term of 5 years from
1st August 2020 subject to a Schedule of Condition.
The current passing rent is £32, 500 per annum which, based on our analysis (in
which no reliance is offered and the buyer must form their own views in this
respect), equates to £25 Zone A. Note this is a rebased rent; the tenant was
previously in occupation paying £44, 000 per annum.
The second floor residential flat is currently let at £10, 260 with effect from
June 2023 (an increase on the previous rent of £9, 780 per annum).
Hence, the total income is currently £42, 760 per annum.
Covenant
Established in 1938, Trespass is one of the UK’s leading outdoor clothing
retailers with a large number of stores across the UK and in mainland Europe
as well as a network of wholesale clients across the world and a thriving
e - commerce website ().
The ultimate parent company of the tenant, Trespass Retail Properties Limited
(Co. No. SC465265), is Jacobs & Turner Limited (Co. No. SC047678) who has
reported the following figures:
27th June 2021 28th Jun2 2020
Turnover £98, 120, 239 £102, 572, 347
Pre - Tax Profits £9, 708, 369 £2, 225, 716
Net Assets £54, 532, 491 £51, 087, 295
**VAT**
The property has been registered for VAT. It is anticipated that the sale of
this property will be treated as a Transfer of a Going Concern (togc), subject
to the buyer complying with the necessary requirements to qualify.
Proposal
We are instructed to seek offers in excess of £325, 000 (Three Hundred and
Twenty Five Thousand Pounds), subject to contract, reflecting a net initial
yield of 12. 8%, assuming standard purchaser’s costs of 2. 33%.
Please note that a purchaser will be re - charged the cost of searches
(£1, 523. 40) which are provided in the data room.
Please note that a purchaser will be charged a Transaction Fee of 1. 0% of the
Sale Price plus VAT.
Investment Considerations
An opportunity to acquire a freehold retail & residential investment in the
heart of Aberystwyth town centre;
New 5 lease from August 2020 in respect of the retail unit, at which time the
rent was rebased from £44, 000 per annum to the current level of £32, 500 per
annum;
Established national tenant;
Attractive lot size to an investor;
A purchase at the asking price reflects an attractive net initial yield.
For full details please visit our website or view PDF brochure below
* Sizes listed are approximations. Please contact the agent to verify actual sizes.

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